Natural Gas Price Forecast – Natural Gas Markets Continue to Grind Back and Forth

Natural Gas Price Forecast Video for 16.12.22

Natural Gas Technical Analysis

Natural gas markets have turned around a bit during the trading session, as we are hanging around the gap that is obvious on the chart. At this point, the market looks very likely to continue to see a lot of noisy behavior, but I do think that there are going to be a lot of moving pieces that people have to pay attention to. Natural gas is dealing with the idea of a major winter storm in the United States and Canada, so that could be a major driver for prices rising, but that being said it’s very unlikely that the market is going to see a lot of selling pressure.

Longer term, I do think that natural gas does fall, but in the meantime, I think we are also trying to figure out what the next move will be based upon the overall global demand, therefore I think you need to be cautious but I also recognize that the market is trying to carve out the range that we will be trading next. The $5.50 level underneath should be supported, and the $8.00 level above should continue to offer resistance. At this point, the market is likely to continue to see a lot of noisy behavior.

If we were to break above the $8.00 level, the market would go looking to the $10.00 level, but I don’t think that is going to be easy to get above. Ultimately, I think the one thing that you can count on is a lot of noisy behavior and volatility, especially as we are starting head towards the holidays.

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