Natural Gas Price Forecast – Natural Gas Markets Finding Support

Natural gas markets have initially fallen during the trading session on Friday only to turn around and show signs of life again. By doing so, the market looks as if it is going to continue to see upward pressure overall. I believe at this point in time, the 50 day EMA underneath should continue to offer support, right along with the uptrend line that makes up the symmetrical triangle. Because of this, the market could very well go towards the $6.00 level, but it may take a little while to get there. If we can break above that level, then it is likely that this market goes much higher.

NATGAS Video 09.11.21

The overall attitude of the market of course has been bullish over the longer term, as we are in the midst of the coldest part of the year. Keep in mind that the futures contract of course is trading for the month of December, so it does make a certain amount of sense that there would be strength. Furthermore, we have also seen a horrible supply disruption as of late, and that has been lifting Price for a while. As long as there is the “reopening trade” out there and in effect, it does make a certain amount of sense that we would see demand for natural gas continue to pick up. Furthermore, the 50 day EMA does tend to be paid close attention to, and therefore it is likely that you will continue to see plenty of dynamic support. It is not until we break down below the $4.80 level that I would consider the trend threatened.

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