Natural Gas Price Forecast – Natural Gas Markets Continue to Consolidate

Natural Gas Technical Analysis

Natural gas markets have rallied slightly during the trading session on Wednesday as we tried to get above the 200-Day EMA. That being said, the market has given back a bit of those gains, and at this point in time I think we have a situation where we are simply consolidating in the same area, with the uptrend line underneath offering a bit of support. After all, we have been in a major channel for quite some time, and it looks like we are going to continue to do so, then a short-term rally could come back into the picture.

But if this market were to take off above the $7.00 level, then it’s likely that we could go looking to the 50-Day EMA near the $7.58 level, where I would anticipate seeing a bit of selling pressure as well. Beyond that, we also have the $8.00 level that could get back into the picture and offer a certain amount of resistance.

If we were to break down below the $6.00 level, the market is likely to continue to see downward pressure, opening up the possibility of even lower pricing. That being said, there is still a lot of geopolitical pressures out there and of course nobody really knows what’s going to end up in the European situation quite yet. Either way, I think we are trying to form some type of short-term base, opening up the possibility of a short-term rally, but I do think that it is somewhat limited. The only thing you can count on in this market is a lot of choppy volatility, and therefore you need to be cautious.

Natural Gas Price Forecast Video for 13.10.22

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