Natural Gas forecast for the week of September 4, 2017, Technical Analysis

Natural gas markets initially fell during the week but found enough support at the $2.85 level to turn around and rally significantly. The break above the $3 level is a bullish sign, but it’s not until we clear the $3.10 level that I would feel comfortable buying from a longer-term perspective. Most of this is short term noise due to hurricane Harvey, and because of this I would be a bit hesitant to get bullish for any real length of time. We could get a pop to the $3.25 level, but I also expect a lot of selling pressure in that region.

NATGAS Video 04.9.17