NEW YORK (TheStreet) --Natural Gas has declined nearly two percent to about $2.09 during trading on Friday. NationShares president and CIO Scott Nations and TJM Institutional Services Jim Iuorio broke down the natural gas trade during this afternoon's "Fast Money Halftime Report" on CNBC.
"We're falling in sympathy with crude oil and the November contract is a bit of a dead zone. It's not going to get much support from electricity production or home heating and we're now falling back towards the 50-day moving average," Nations explained.
He added that natural gas is still above "the important moving averages," but the next level would be the 50-day moving average, currently at $2.85, he noted.
Iuorio was questioned on if he would be a buyer of natural gas at these current levels.
"When you get a 2% move right along this trend line, and we are on an upward trend for the last few months, I think it would be worth taking a shot here. I think that upward trend is broken if it trades below $2.80 and feels comfortable there. But right now, I would take a shot," he told CNBC's Jackie DeAngelis.