Natural Gas Markets Bounce From Previous Resistance

Natural Gas Technical Analysis

I have been talking about the $6.50 level and how important it would be to keep above that level over the last several sessions. Now that we have tested this area, gapping down to it at the open and then turning around, the next major resistance barrier is the $7.00 level. Breaking above the $7.00 level opens up the possibility of a bigger move, perhaps back to the highs again. At this point, the market is likely to continue to see buyers coming in based upon any type of value, but warmer temperatures coming to the United States will have an effect on this market.

If we break down below the $6.25 level, it is at that point that I believe that natural gas will continue to get hammered as we are starting to see a lot of commodities change their overall trend, based on volatility and the volatility of volatility. Furthermore, one would have to wonder about global demand when it comes to commodities because we are starting to see signs of a global slowdown.

That being said, there are still people out there focusing on the idea of the Russian export of natural gas suddenly stopping. As things stand right now, it is worth noting that the European Union is already trying to figure out some type of workaround to the “paying with Russian rubles” issue and will eventually try to find a way to supply themselves with that Russian natural gas. At this point, they are essentially playing games, and temperatures in the Northern Hemisphere are starting to rise again, therefore should drive down demand in general.

Natural Gas Price Forecast Video 26.04.22

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