Natural Gas Price Forecast – Nat Gas Continues to Drop

Natural Gas Price Forecast Video for 04.05.23

Natural Gas Technical Analysis

The reduced demand for natural gas during this time is further compounded by the anticipated economic slowdown that will affect the industry, leading to a decreased need for electricity. Consequently, the natural gas markets are likely to continue experiencing a decline.

The 50-Day Exponential Moving Average (EMA) is an important indicator that market analysts are paying close attention to. Any movement towards this indicator is likely to result in selling as traders begin to feel exhausted. Overall, the market is expected to remain noisy with various headlines. In this situation, it is recommended that investors sell short-term rallies because there is currently insufficient news to spark excitement among traders. However, even if the market breaks above the 50-Day EMA, investors should keep an eye on the $3.00 level. This is a significant psychological barrier and has previously caused resistance in the market.

The market is expected to remain choppy, and investors should consider the $2.00 level as a crucial support level, with the 1.80 level serving as a support “zone.” Many traders will be paying attention to this area. Until the end of summer when Europe attempts to replenish its natural gas supply, the natural gas market is expected to remain weak.

At the end of the day, natural gas markets continued to experience a downward trend due to reduced demand during the warmest period of the year and the anticipated economic slowdown. Investors should sell short-term rallies as there is not enough news to generate excitement among traders. Although breaking above the 50-Day EMA is a possibility, investors should be cautious of the $3.00 level, which is a significant psychological barrier. The market is expected to remain choppy, with the $2.00 level serving as a crucial support level and the 1.80 level serving as a support “zone.” The market is likely to remain weak until Europe replenishes its natural gas supply towards the end of summer.

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