Natural Gas Price Forecast August 22, 2017, Technical Analysis

The natural gas markets had a very volatile session on Monday, as we initially rose towards the $2.93 level, but then turned around to fall rather drastically. We found support just above the $2.85 level, and then reach towards the $2.97 level above. By finding that area and a certain amount of resistance, I believe that it’s going to be an opportunity to start selling again. I think that the $3 level offers a significant amount of resistance, extending towards the $3.10 level above. Ultimately, I am bearish of natural gas as any of the readers at FX Empire can tell you, as the oversupply continues to be a massive problem. Ultimately, I believe that we are going to reach down to the $2.85 level, and a breakdown below there should send this market down to the $2.75 level after that.

NATGAS Video 22.8.17