Natural Gas Price Forecast – natural gas balances

Natural gas markets continue to be very soft overall, but we did attempt a small rally during the trading session on Wednesday. By doing so, it looks as if Fresh sellers have step back into the market, which should be a nice selling opportunity. The $2.825 level has offered support recently, so I think a break down below there will open the door to the $2.80 level. This is a market that continues to be very noisy, but most certainly negative. After all, we have been in consolidation for a very long time, and it has been an area that continues to offer relatively stable trading. The $3.00 level above continues to be massive supply, while there is a lot of demand that the $2.70 level. We are pulling back from the highs, so it makes sense that we would drop lower.

At this point, I think you will simply continue to sell rallies on signs of exhaustion, as it gives us an opportunity to sell from a higher level. I think the $2.80 level will offer support, followed by the $2.75 level, and that of course the previously mentioned $2.70 level which continues to attract a lot of buying pressure. In general, I believe that we will see plenty of opportunity to both sell this market and profit.

NATGAS Video 30.08.18