Natural Gas Price Forecast December 19, 2017, Technical Analysis

Natural gas markets gapped higher at the open on Monday, breaking above the $2.75 level. That’s an area that is of course a major barrier in the marketplace, psychic we may rally from here a little bit more. The $2.85 level should be resistive, and although we’ve seen an explosive moved to the upside, I think that it’s only a matter of time before we get a selling opportunity. I believe that natural gas markets selling off the way they have over the last several sessions is a sign that the bearish pressure is going nowhere. I think that it’s only a matter of time before exhaustion comes back into play, and therefore that’s what I’m looking for. Natural gas falling apart during the winter and the North there’s a bar the United States is a very odd and negative sign, so although it looks very bullish in the short term, I’m looking for an opportunity to sell this market.

If we do break above the $2.85 level, then I think the market probably will go towards the $3.10 level above, and I think it’s only a matter of time before we get a nice selling opportunity, I may look to the daily charts to do so though. If you are short-term chart traitor, then possibly you can start buying, but I think it’s easier to wait for exhaustion to come into play, as this is a marketplace that has been very negative for the last several years. Below, I see the $2.50 level to be massively supportive, and essentially the “floor.”

NATGAS Video 19.12.17