Natural Gas Price Forecast – Natural Gas Markets Find Buyers Below

Natural Gas Technical Analysis

Natural gas markets have fallen a bit during the trading session on Friday, as we have seen quite a bit of hesitation just above. However, you should keep in mind that the market has plenty of buyers underneath willing to get involved as well. Because of this, I think any pullback is probably going to be relatively shallow, at least until we see some type of major turnaround in the fundamentals. At this point, people are concerned about a lack of storage due to the demand hole that was trying to be filled in Europe. That being said, it’s very likely that Europe is not going to be touching most of this gas.

The $9.50 level has offered a significant amount of resistance, so it does look to me as if the market is going to continue to respect this area as resistance. If we do break above the $9.50 level, then it’s almost assured that the market is going to go looking to the $10.00 level. That being said, the $10.00 level would probably cause a lot of trouble when it comes to the uptrend, and of course, there is going to be a lot of headline noise and psychology around it.

That being said, we are starting to see even more volatility and typically volatility leads to some type of bigger breakdown. If we break down below the $8.80 level, then it is likely that we have more of a pullback at that point. Underneath, then you have the $8.00 level in the 50 Day EMA coming into the picture.

Natural Gas Price Forecast Video for 22.08.22

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