Natural Gas Price Forecast – Natural Gas Markets Continue to Slump

Natural Gas Price Forecast Video for 13.03.23

Natural Gas Technical Analysis

Natural Gas has fallen slightly during the trading session on Friday as we continue to see a bit of negativity, but that being said, the market is going to continue to take a look at multiple issues that could continue to be headwinds for the natural gas market. For example, we have the warmer temperatures coming to the northern hemisphere, so that will drive down demand. Furthermore, if the global economy starts to slow down, that also will drive down the potential demand as well.

Underneath, the $2.00 level should be a major support level, if for no other reason than the fact that it is a large, round, psychologically significant figure. On the other hand, if we turn around we could rally toward recent highs, which are right around the $3.00 level. The $3.00 level course is a large, round, psychologically significant figure, and of course the 50-Day EMA sits right around the $3.17 level.

This is a market that will more likely than not continue to find plenty of reasons to drop, at least in the short term. That being said, the market is more likely than not going to find buyers eventually, and it could be a good investment, but you don’t want to do that with anything along the lines of leverage, due to the fact that the natural gas markets are very noisy, and you do not want to risk a sudden shot in one direction or the other. In the short term, I suspect that we have a lot of choppy behavior, and therefore short-term traders might be more prone to do back and forth range bound trading than anything else.

For a look at all of today’s economic events, check out our economic calendar.