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Natural Gas Price Forecast – Natural Gas Markets Drift Lower On Friday

The natural gas markets initially tried to rally during the trading session on Friday, but then rolled over to break down below the $2.40 level. That is a very negative sign, but ultimately there is a massive amount of support underneath.
Christopher Lewis
Natural Gas Price Forecast - Natural Gas Markets Drift Lower On Friday

Natural gas markets initially tried to rally during the trading session on Friday but rolled over to show signs of exhaustion as we continue to bounce around in general. At this point, the market also has a major uptrend line underneath that should continue to offer support. At this point, the market is very likely to find support at that uptrend line underneath, and the fact that it was Friday probably had something to do with the malaise in general. At this point, the market is likely to continue to go higher given enough time due to the fact that we have a lot of support underneath and of course a lot of snowstorm and colder temperatures issues coming out.

NATGAS Video 09.12.19

At this point, the market more than likely has an upward proclivity, but we may have the occasional pullback that comes into play and pushes this market a little bit lower. The uptrend line should continue to hold, especially this time of year. That being said though, the market is likely to remain choppy as we see a lot of noise out there, and of course there has been massive drilling this year. However, we will eventually get that Bost to the upside in should go looking towards the $2.80 level, followed by the $3.00 level. A certain amount of patience will be needed to take this trip though, because there has been so much in the way of noise as of late. If we were to break down below the $2.25 level, that could open the door to the $2.20 level, and then eventually the $2.00 level.

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