Natural Gas Price Forecast August 17, 2017, Technical Analysis

Natural gas markets continue to look very volatile, because quite frankly there is a lot of headlines that the markets will be paying attention to. The $2.85 level below should be supportive, and I think that given enough time we will probably not only reach down towards that area, but quite possibly go looking to break down below it as well. Alternately, if we rally from here, I’m looking to sell closer to the $3 handle as it should be massively resistive. Ultimately, this is a market that should continue to be bearish as the oversupply concerns of the natural gas markets continue to be a serious issue in this commodity. A breakdown below the $2.85 level should then go down to the $2.75 level after that.

NATGAS Video 17.8.17