FXEMPIRE
All
Ad
Advertisement
Advertisement
Christopher Lewis
Add to Bookmarks
Natural Gas

Natural gas markets have gone back and forth during the trading session on Thursday, as we continue to see a lot of volatility in general. The natural gas markets are at extreme low levels, and therefore think with this it is likely that we are going to see a lot of interest in value hunting down in this general vicinity. The $1.50 level underneath is a massive support area, that I think it extends out to the $1.60 level. If we can continue to bounce from here, the markets highly likely to go looking towards the 50 day EMA above.

NATGAS Video 19.06.20

This market looks as if it is trying to form some type of double bottom, so that of course is something worth paying attention to. The natural gas markets have seen the $1.50 level cause significant support in the past, so it should in the future. If we were to break down below that level, then I think that the market unwinds even further.

Advertisement
Know where Natural Gas is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Ultimately, the market is going to continue to see a lot of buyers based upon the fact that there are plenty of suppliers and drillers in the United States going bankrupt. Eventually this will break down the supply situation, so that could cause a short-term pop. I do not necessarily think that the trend is ready to change, but I think we are getting very “long in the tooth” when it comes to the downtrend. With that in mind I would anticipate some type of bounce from here and likely increased volatility.

For a look at all of today’s economic events, check out our economic calendar.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker