Natural Gas Price Forecast – Natural Gas Is Still Trying to Stabilize

Natural Gas Price Forecast Video for 20.01.23

Natural Gas Technical Analysis

Natural gas markets have been very quiet at the open on Thursday, as we continue to see a lot of back-and-forth right around the $3.30 level. Quite frankly, every time natural gas looks like it’s going to take off, it rolls over yet again. One of the biggest factors of course is going to be the fact that the supply of natural gas is rising, with the Freeport terminal finally operating as expected. This means that there is much more natural gas coming out of the United States in the form of exports, so that has to be taken into account.

Furthermore, weather is much warmer than usual, which of course will have a certain amount of influence on pricing as well. After all, if it’s not cold, natural gas will be used to heat homes in nearly the amount expected. Beyond that, you also have to keep in mind that industrial demand should be dropping if the global economy is slowing down, so that makes a huge difference in the way demand is envisioned. If we do see a certain amount of negative pressure in the market yet again, the follow-through would be that industrial demand is falling off of a cliff, which you can make a serious argument for.

At this point, I’m hoping and begging for a nice bounce that I can start selling, and the 50-Day EMA looks to be crashing into the $5.00 level, making that a perfect area, but we are nowhere near it. If you are more of a day trader, then you’re looking for short-term rallies that you can take advantage of on short-term charts.

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