Natural Gas Price Forecast – Natural Gas Markets Attempt to Recover

Natural Gas Technical Analysis

Natural gas markets have rallied a bit during the trading session on Wednesday, to reach the 50 Day EMA. At this point, the market is trying to get a bit of a relief rally, with the $7.00 level offering support. If we were to break down below the $7.00 level, then it’s likely that this market could drop to the 200 Day EMA, which is at the $6.00 level.

On the other hand, if we were to turn around a break above the $8.00 level, then it’s possible that we could see this market try to get to the $9.00 level, where we had seen a lot of selling pressure. The Freeport terminal closing down and not being able to produce more LNG is a major detriment to the European Union, meaning that both natural gas may state domestic, and that could continue to see more downward pressure air. I do think at this point, if we were to break down below the $6.50 level, then the market falls apart.

If we were to break above the $9.00 level, then the $9.50 level will be tested, allowing for a move to the $10.00 level after that. You’re still technically in an uptrend, but that horrific candlestick from the Tuesday session cannot be overlooked, and typically candlesticks like that do get a bit of follow-through. It’s also worth noting that over the last couple of months, the biggest candles have all been read, and at this point in time it looks like the sellers are getting quite a bit more aggressive. With a global slowdown coming, demand for natural gas may drop.

Natural Gas Price Forecast Video 16.06.22

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