Natural Gas Price Forecast – Natural Gas Markets Continue Sideways Grinding

Natural gas markets have done very little during the trading session on Thursday, as we are starting to see a significant amount of hesitancy as far as momentum is concerned. That being said, the market is likely to continue to see a lot of noisy behavior, but it certainly looks as if we are still likely to need a bounce in order to fill the gap above. That would send the market towards the 200 day EMA, or the $4.16 level. At this point time, the market would likely see a lot of selling pressure, and therefore it is likely that we would see the gap filling suggest that a lot of people would be looking to get short as well.

NATGAS Video 10.12.21

Keep in mind that the contract is the January contract, and we are starting to see whether reports in the United States suggesting that it is going to be a relatively mild winter. At this point, the market is likely to continue to see sellers every time we rally, and at this point in time I think it is fairly easy to guess that we have made the high for the winter. At this point time, the market is likely to see a “sell the rallies” type of set up, and therefore I think it makes quite a bit of sense that we would see plenty of opportunities, because quite frankly we are oversold. At a bounce at this point in time, I am looking for signs of exhaustion. I would love to see this market skyrocket, because quite frankly would only be a matter of time before gravity comes back.

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