After a wild ride for natural gas futures on Monday, the upswing might be over, commodities trader Dennis Gartman said.
December futures closed at $4.255 per million British thermal unit, down 3.6 percent, breaking 10 sessions of gains. Natural gas had been up more than 25 percent from its October low.
"You had a huge run to the upside," he said. "Ten or 11 consecutive days to the upside is extended by anyone's imagination. And you are getting to the point where at $4.50 million British thermal units that was probably—for lack of a better term—a sporty price."