Natural Gas Price Forecast – Natural gas markets fall on Friday

Natural gas markets fell during the trading session on Friday as we continue to see a lot of volatility in this market. We are exiting the traditionally bullish time of year, so it makes sense that natural gas will continue to see a bit of selling pressure. I see the $2.75 level as something to pay attention to, because quite frankly we have had so much in the way of interest at that area previously. There is the 50 day EMA and of course the 200 day EMA right there as well, which of course will cause a lot of volatility. At this point, I suspect it is likely to be a scenario where we get a lot of noise, but now that the gap has been filled from the beginning of the week, I also believe that we are probably going to see more downward pressure than up.

NATGAS Video 18.03.19

I see the $2.90 level above as being major resistance that extends all the way to the $3.00 level. I would love to sell signs of exhaustion in that area if we get them. Otherwise, other exhaustive candles may work but I prefer that area because it has proven itself to be so important more than once. Beyond that, there is the psychological importance of the round figure at $3.00 that of course can’t be ignored either.

To the downside, I think the $2.60 level is the beginning of massive support that extends down to the $2.50 level. Because of that, I am simply shorting to get down to that area.

Please let us know what you think in the comments below