Natural Gas forecast for the week of August 28, 2017, Technical Analysis

Natural gas markets initially rose during the week, but found enough resistance near the three dollars level to turn around and form a shooting star. The shooting star sits just above the $2.85 level, and I believe that a move below there signals that we are going to go to the $2.75 handle after that. There is hurricane coming over the weekend towards several natural gas pipelines, so there are a few unknowns going forward, but overall the natural gas markets are oversupplied, and that should continue to be the case going forward. Longer-term, this market looks likely to go reaching towards the $2.50 level.

NATGAS Video 28.8.17