Natural Gas Price Forecast – Natural Gas Markets Flat For Friday

Natural gas markets have gone back and forth during the trading session on Friday, just as it did on Thursday. Ultimately, the $1.80 level underneath should offer plenty of support based upon historical charting, and of course the fact that the market does have a proclivity to move in $0.20 increments. If the natural gas markets break down below the $1.80 level, then it’s possible that the $1.60 level underneath could offer support. That being said, this is a market that is very negative, but has seen colder temperatures recently in the United States. That of course is good for the market, but the oversupply is just astronomical.

NATGAS Video 10.02.20

The inventory figure on Thursday was better than anticipated but you can see that the market didn’t get overly excited about that. Quite frankly, I think it needs to see several weeks of better than anticipated numbers before natural gas starts to rally with any significant amount of momentum. More likely than not, we will get a cold snap in places like New York or Boston that drive prices higher for the short term, but those should end up being a nice selling opportunities. I will be looking at every $0.20 above as a potential selling opportunity but also recognize that a move below the $1.80 level should not be ignored and could offer a selling opportunity as well.

I have no interest in buying natural gas, at least not until we get through the way of a bankruptcy sitter almost certainly coming in the United States as they are far too many companies out there fracking right now.

Please let us know what you think in the comments below