Natural Gas Price Forecast – Natural Gas Continues to See Negative Pressure

Natural Gas Technical Analysis

You can see the natural gas market fell a bit during the trading session on Monday, as we continue to see plenty of negativity. That being said, the market is going to continue to look at the $1.50 level underneath as a bit of a floor and I think what we’ve got is a situation where traders will continue to play off of that level. Short-term bounces, or things like that, could be expected occasionally. However, for a longer-term market move, it’s going to take something rather special.

After all, there’s plenty of natural gas out there and we continue to see plenty of natural gas being found. Furthermore, it’s not exactly the time of year when you get a lot of demand because the Northern Hemisphere is now warming up. But as for myself, I am invested in this through an ETF. That way I don’t have to worry about leverage, and I don’t have to worry about if it slips 20 cents in a day, because quite frankly, that’s the only way you’re going to truly make money in this market unless you buy extreme lows and get rid of them 24 hours later.

The $2 level above is a major resistance barrier, and if we can break above there, then we could go to $2.50 level, but that could be months down the road. We would need some type of heat wave or winter to come to make that happen. That being said, I’ll hold on to my unlevered position and just simply take profits later.

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