Natural Gas Price Forecast – Natural Gas Markets Continue to Fluctuate

Natural Gas Price Forecast Video for 09.06.23

Natural Gas Technical Analysis

Natural gas markets have rallied ever so slightly early during the Thursday trading session as it looks like we are trying to drift toward a 50-Day EMA. The 50-Day EMA of course is an indicator that a lot of people pay close attention to, but at the end of the day it’s relatively flat so I don’t think it holds as much weight as it normally would.

The more important thing will be to pay close attention to the range between the $2.00 level and the $3.00 level. The market continues to see those levels as barriers to overcome, and therefore I think we stay in that range between now and the end of summer. At the end of summer, the Europeans will have to replenish their natural gas supplies, and that of course will be very bullish for this market. However, between now and then we are only going to see the occasional spike due to either position building, or possibly the occasional heat wave. Ultimately, we also have to keep in mind that the industrial demand for natural gas is going to remain weak, and therefore I think we’ve got a situation where there’s no real reason to think that this market will do anything between now and the end of summer, at least nothing that you can hang onto.

If you are a short-term trader, this is the type of range-bound market that you are going to love. That being said, looking for bigger moves probably is a bit of a fool’s errand between now and the end of summer. Once that happens, then it’s likely that we are much higher.

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