Natural Gas Price Forecast – Natural Gas Markets Continue Choppy Behavior

Natural gas markets have gone back and forth during the course of the trading session on Thursday, as we continue to see a lot of noisy behavior in general. That being said, the natural gas markets of course are very fickle and sensitive to whether as you would anticipate. Temperatures in the United States are rising, so having said that it is very likely that we will continue to see demand shrink, and as a result the 200 day EMA above continues to offer a bit of resistance near the $4.09 level, so that something that you should pay close attention to. I believe that every time we reach towards that area, we will see sellers again as the market will continue to see that area as a major barrier to overcome.

NATGAS Video 07.01.22

Underneath, the $3.50 level should continue to offer plenty of support as we go back and forth, trying to build up enough momentum for the next move regardless of which direction that is. All things been equal, I think we go looking towards the $3.00 level, which is a large, round, psychologically significant figure, and an area where we have seen the market be attracted to previously. Furthermore, the measured move of the descending triangle that we broke out of suggests that we could go down to the $3.00 level as well. Because of this, I do believe that we go lower given enough time and will continue to play this market from the downside. I have no interest in buying, and I believe that every time we rally it is a selling signal yet again.

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