Natural Gas Price Forecast – Natural Gas Markets Continue to Hover Around a Major EMA

Natural Gas Technical Analysis

Natural gas markets have gone back and forth during the course of the trading session on Friday as we continue to hang around the 200-Day EMA. This is an indicator that of course attracts a lot of attention, so with that being said I think it’s only a matter time before somebody has to make a bigger decision. If we do rally from here, I believe that the rally is probably somewhat limited, despite the fact that Russian gas lines are now exploding randomly across the European continent. With this, I think that the 50-Day EMA could be a target and could be where we start to see sellers coming back into the market.

The alternate scenario of course is that the market breaks down below the lows of the last couple of days, perhaps making a move towards the $6.00 level, an area that of course is a large, round, psychologically significant figure. This area would attract a lot of attention, and therefore I think we’ve got a scenario where it is only a matter of time before buyers would try to support the market in that area. Regardless, I think the only thing you can count on is that we are sitting sideways and likely to find some type of bigger move sooner rather than later.

Natural gas markets will continue to be in their own world, as we have so many different moving pieces at the moment that it is almost impossible to pin anything down. However, I do think that the fact that the Nordstream sabotage hasn’t moved price says quite a bit.

Natural Gas Price Forecast Video for 03.10.22

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