Natural Gas Price Forecast – Natural Gas Markets Continue to Hover

Natural Gas Technical Analysis

The natural gas markets have shown a significant amount of noisy behavior over the course of the trading session on Wednesday as we hang right around the $7.40 level. That being said, I think it’s probably only a matter of time before we have to resolve this situation. With this, I think the market will probably look at the 50 Day EMA as a potential support level, but if we break down below there then it’s likely that we will start to fall again. Keep in mind that there is a previous uptrend line just above, and it’s offering quite a bit of potential resistance as well.

Furthermore, take a look at the eight dollars level, it’s an area that a lot of people will be paying close attention to. With that in mind, I think that it is probably only a matter of time before we start to sell off again. Ultimately, if we break down below the $7.00 level and the 50 day EMA, then we will go looking to the $6.00 level, and possibly beyond. Ultimately, we could also break it down to the 200 Day EMA which is currently at the $5.90 level.

I do believe that is going to be the target eventually, but I would count on a lot of noise between now and then. I still plan on fading rallies, but I recognize that we have a situation where the markets will continue to be very volatile, especially as the European Union has so many issues with natural gas, although the United States cannot help that much.

Natural Gas Price Forecast Video for 21.07.22

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