Natural Gas Price Forecast – Natural gas markets drift lower

With a bearish inventory figures coming out during the week, and the fact that natural gas will be demanded much in a slowing global economy and a time of year that’s typically negative, this makes sense that we are seeing continued bearish pressure in the natural gas markets. As we broke down below the $2.30 level rather significantly, it tells me that the market is ready to go even lower which is quite impressive.

NATGAS Video 24.06.19

At this point, it looks as if the natural gas markets will continue to be one that you should sell on short-term rallies, as the $2.50 level is a major ceiling, just as the $2.40 level should be resistance. To the downside I think we are going to go looking towards the $2.00 level, which of course will attract a lot of attention as a large figure. Ultimately, I don’t know that we break down below there and I think that short-term trading will continue to favor exhaustive candles above to start shorting. I don’t have any interest in buying natural gas, at least not until we get closer to the fall which is the traditionally bullish cycle in this market. I believe at this point it will be astonishing if we can break above the $2.50 level, and if we did I think it would attract a lot of attention. I remain a seller until November, and look at the $0.10 levels on the way of as opportunities to get involved.

Please let us know what you think in the comments below