Natural Gas Price Forecast – Natural Gas Markets Continue To Struggle

Natural gas markets tried to rally during the trading session on Thursday but gave back all of the gains as the inventory number isn’t exactly impressive. With this being the case we are pressing support yet again.
Christopher Lewis
Natural gas daily chart, October 11, 2019

Natural Gas markets continue to be very noisy, showing signs of exhaustion as it rally. However, there is a ton of support underneath so quite frankly this is a market that probably needs to be left alone at this point, as it has nowhere to be. A break down below the $2.20 level could open up the door down to the $2.00 level where we could reset and look for buyers again. We are in the time of year where eventually the buyers come back, but it’s obvious they are ready to do so yet. With that in mind, this market will have no real directionality as it is at extreme lows and everybody already knows there’s too much natural gas in the world. Quite frankly, there’s no reason to express a negative viewpoint.

NATGAS Video 11.10.19

A break above the top of the candle stick for the trading session on Thursday could be a bullish sign and could have traders jumping into the marketplace, but right now I do not anticipate that happening with any type of gusto, as the world is currently paying attention to the US/China trade talks, which has an effect on every market in every direction. Rumors continue to persist, making trading almost impossible at this point. As long as that’s going to be the case, you need to stay out of the less liquid markets like natural gas and stick to heavier traded markets such as currencies. Natural gas is probably a “no touch” until next week.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.