Natural Gas Price Forecast – Natural Gas Markets Give Up Early Gains Again

Natural Gas Technical Analysis

Natural gas markets initially tried to rally during the trading session on Friday but then turned around to show signs of weakness. The market is likely to continue being very noisy, so it is worth paying close attention to the fact that every time we rally, there seems to be a bit of a selloff. Furthermore, when you look at the candlestick, it is an inverted hammer, so it does suggest that we are going to continue to chop back and forth and show signs of negativity.

We are now testing the $8.00 level, and if we can break down below there, it’s likely that the market will continue to drop significantly, perhaps reaching down to the 50 Day EMA. The 50 Day EMA gets a lot of attention, and I think that will be the case going forward. The markets will continue to look very negative, and therefore I think that it is probably only a matter of time before we go much lower. After all, the heatwave is abating in the United States, so, therefore, it will drive down demand.

There is still a lot of monkey business going on with Russian gas, so I do think that it is going to continue to be a major problem to pay attention to as well. Ultimately, I think what we have here is a situation where the market is simply pulling back from the highs of what could be the potential range that the market wishes to trade in. Because of this, I remain skeptical of rallies, especially as this market has been so highly manipulated as of late.

Natural Gas Price Forecast Video for 01.08.22

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