Natural Gas Price Forecast – markets continue to whip around

If you followed me over the last couple of years here at FX Empire, you know that I am longer-term bearish of natural gas. It is because I live where so much fracking goes on in the United States that I am fully aware of how much natural gas there truly is out there. Quite frankly, natural gas could power the United States for at least 300 years, replacing all forms of energy quite handily. However, futures markets tend to focus on shorter-term time frames. Because of this, I recognize that there are buying opportunities occasionally, and certainly is a traitor you should take advantage of them. I believe that the “higher lows” suggests that if we do break above the $2.96 level, we will probably continue to go towards the $3.00 level. We do continue to see a lot of resistance just above, so I think that the upside is somewhat limited.

If we do break down below the $2.90 level, then it would show a turnaround in the overall momentum. At that point, I think that the market would then go down to the $2.85 level. The $2.85 level has been supportive as of late, but I think that there is a more significant support level down at the $2.80 level. Ultimately, on the upside if we break above the $3.00 level, the $3.10 level above would be the next significant target.

NATGAS Video 15.06.18