In this video, the Trader Guy looks at commodities Crude Oil and Natural Gas for the April 12th session.
WTI Crude Oil — As you can see, we rallied significantly during the day on Thursday, and that has started to show little signs of exhaustion. As long as we have the 200-day Exponential Moving Average above, I believe that it is a selling opportunity, just waiting to happen. I need to see an exhaustive candle though and that is essentially what I am waiting for here. A little bit of resistance here in this area could be a nice selling opportunity, be patient though.
Natural Gas — The Natural Gas markets broke out to the upside clearing the $3.33 level. Now I think that the $3.50 level is the target. I believe that a short-term pullback offers value that the traders will look to. I don’t know if we can get above the $3.50 level. Currently there is a gap and it is likely to get filled. But having said that, I certainly think we are going to at least try to get there.
© Prabhu for Forex Videos, 2017. |
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Post tags: Natural Gas, technical analysis, WTI Crude oil
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