Natural Gas Price Forecast – Natural Gas Markets Continue to Drift Lower

Christopher Lewis
Published: Mar 24, 2023, 15:42 GMT+00:00

Natural gas markets have dropped a bit during the trading session on Friday, as we continue to see lackluster pressure in general.

Natural Gas, FX Empire

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Natural Gas Price Forecast Video for 27.03.23

Natural Gas Technical Analysis

Natural gas markets have drifted a bit lower again on Friday as we continue to see a lot of hesitation. Quite frankly, this is a place where you will see a lot of that money, but I do think that longer-term players are starting to look at this through the prism of possibly building up a little bit of a position, trying to play this from the longer-term standpoint. After all, even though we are heading into the springtime, the reality is that sooner or later pricing is so cheap that somebody’s going to jump in and take advantage of it.

The 50-Day EMA above is right around the $3.00 level, which is the top of this overall range. If we can break above there, then it’s possible that the market could go looking to the $4.00 level. Regardless, even if we do break above there, I think this is a situation where you are looking at signs of exhaustion as a potential selling opportunity, and I will use it as such. With this, I remain bearish, but I also recognize that you could be more of a sideways range bound trader from a shorter-term standpoint. At this point, just comes down to your overall timeframe, and therefore there might be a little bit of something for everybody in this market.

If we were to break down below the $2 level, then it’s possible that we could go looking to the $1.80 level, but I think given enough time it would become so cheap that you would see an attempt to at least cause a major “ bear market rally” at this point.

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About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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