Natural Gas Price Forecast – Natural Gas Collapsed Into 200 Day EMA

Natural gas markets got hit for over 7% in losses during the trading session on Thursday, as the concern about the hurricane season has drifted away. Quite frankly, there is still plenty of natural gas out there, but demand will start to pick up again. The 200 day EMA of course is an area that technical traders will pay attention to, not to mention the fact that we are right around the $2.10 level, an area that I thought could cause a bit of support. However, it looks like we may dip a little further, perhaps reaching down to the big figure of $2.00 after that. Do not get me wrong, I do think that eventually the market will find its footing again, but the problem with natural gas is that it is so heavily supplied that it is going to be difficult to see this market going straight up in the air, but as we head into the seasonality of bullish pressure, it is likely that we do recover.

NATGAS Video 18.09.20

That being said, the market is one that you should be watching, not necessarily trading at. I have stated a couple of times that I am waiting for some type of daily candlestick to suggest buying. We have not gotten it yet, so at this point we are going to have to be cautious and very patient in order to take advantage of value. We do not have a quite yet, although the next couple of days could present that possibility. I will keep you up-to-date here at FX Empire as to what I am doing and thinking.

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