Natural Gas Price Forecast – Natural Gas Markets Continue to Bump Around

Natural Gas Price Forecast Video for 15.03.23

Natural Gas Technical Analysis

Natural gas markets have gone back and forth during the day on Tuesday as we are looking for some type of direction in general. That being said, the market is still dealing with the effects of a massive selloff recently, as we have seen so much in the way of negativity in demand. After all, the European situation was nowhere near as bad as people had feared, and therefore it makes a certain amount of sense that we would see a bit of a relief move.

The 50-Day EMA sits near the $3.13 level, and of course is an indicator that a lot of people will pay close attention to. It’s a longer-term technical indicator that will determine the quarterly trend, and therefore you would anticipate a bit of selling pressure in that area if we get to that region. The $2.00 level underneath should be a significant amount of support as well, as it is a large, round, psychologically significant figure. If we were to break down below there, then it opens up the possibility of an even deeper correction, but quite frankly I just don’t see that happening.

Any rally at this point has to be looked at with suspicion, so I’m hoping to get a little bit of a relief rally that I can start fading again. After all, the market has been very quiet lately, so it does suggest that perhaps we are trying to enter some type of accumulation phase, but eventually we will probably have some type of relief rally or “bear market rally.” That being said, we are heading into springtime, and demand will start to drop rather significantly as well.

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