Natural Gas Price Forecast – Natural Gas Markets Continue to See Negativity

Natural Gas Price Forecast Video for 20.02.23

Natural Gas Technical Analysis

Natural gas markets have initially fallen during the trading session on Friday as we continue to see a lot of negativity overall. With that being said, the market continues to see the lack of demand as a major problem, and as long as that’s going to be the case, I just don’t see how natural gas takes off. With this, I think you probably also have a situation where we may go look into the $2.00 level, an area that obviously will attract a lot of attention in general. Whether we break down through there is a completely different question.

On the other hand, if we turn around and rally, the $2.60 level could open up a move toward the 50-Day EMA at the $3.60 level. After that, the $4.00 level would be the target. I don’t like selling all the way down here, but it’s clear that the buyers are just nonexistent at this point. Either way, I think you probably have a lot of noise just waiting to happen, so you need to be cautious but I would prefer to see some type of rally that I can start to fade on signs of exhaustion.

The question of course is if anybody will actually show up to push this market higher? At this point in time, I just don’t have any scenario in which I would be buying natural gas, because clearly nobody else is going to. With that, I look at every rally as a potential selling opportunity in what has been an absolute train wreck of a market. Furthermore, we are starting to head towards warmer temperatures which has a major influence as well.

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