Natural Gas Price Forecast – Natural Gas Has Yet Another Bullish DayNatural gas markets have continued to see bullish pressure of the last couple of weeks due to cooler temperatures in strengthening demand in America.
Natural gas markets have rallied a bit during the course of the trading session on Tuesday as we continue to see a lot of demand for commodities in general. That being said, without a doubt the weakest “link in the chain” will be the natural gas commodity. After all, we are eventually going to see warmer temperatures in the United States, and therefore I think we are looking at a certain amount of a leash on the amount of time that this rally has. The $3.00 level course would be psychologically resistant, and an area where we have seen some resistance in the past anyway.
NATGAS Video 28.04.21
There is also a gap underneath it has yet to be filled, and natural gas markets will be any different than any other futures contract, as those markets tend to be attracted to these gaps. Eventually, the market would probably find its way down there, which is closer to the 50 day EMA. I still do not have any interest in buying this market, because I understand that there is a certain amount of time that has to go by before we can sell off again, so it is a matter of simply sitting on the sidelines and waiting for the signal.
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I do not have any interest in trying to get long of this market, although I do recognize that the short-term move probably is more or less going to be a bit of continuation of what we have seen. Ultimately though, the oversupply of natural gas will come back into play, pushing it back down.
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