Natural Gas Forecast January 20, 2017, Technical Analysis

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Updated: Jan 20, 2017, 02:25 UTC

Natural gas markets fell on Thursday, reaching towards the 3.25 handle underneath. If we can break below there, the market should then reach towards the

Natural gas daily chart, January 20, 2016

Natural gas markets fell on Thursday, reaching towards the 3.25 handle underneath. If we can break below there, the market should then reach towards the 3.10 level below there. Ultimately, I think rallies will be selling opportunities, unless of course we can somehow break above the 3.50 handle. If we do, then we should fill the gap. However, it appears to me that we are going to continue to sell off every opportunity we get. Warmer than anticipated winter temperatures in the United States will work against the demand part of the equation, and of course there is massive oversupply of natural gas in the first place.

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About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.