Natural Gas Price Forecast – Natural Gas Markets Form HammerNatural gas markets initially fell during the trading session on Friday, but found enough support just above the 200 day EMA to turn around for a hammer. This of course is a very bullish sign and therefore has me thinking that the breakout is in fact coming soon.
Natural gas markets have fallen a bit during the trading session on Friday but felt enough support just above the 200 day EMA to form a hammer. That is a very bullish sign, which of course is very obvious for most traders, so therefore a lot of people will be looking to start buying again. At this point, the market looks as if there is a significant amount of resistance near the $2.75 level, and if we can break above there it will be a fresh, new high which of course also will have a major influence on where the market goes next. A breakout above there opens up the possibility of the $3.00 level, and then beyond that. The large, round, psychologically significant $3.00 level will cause a certain amount of headline noise, but it more than likely will be sliced through.
NATGAS Video 04.11.19
As we enter the winter months, but demand will pick up in the United States and European Union, so that will continue to drive this market higher. I believe that’s what the market is focusing on right now, and colder temperatures in the US will continue going forward, thereby driving the price much higher. At this point, I like buying short-term pullbacks in order to take advantage of value, as the dips should offer plenty of buying opportunities. Ultimately, the market will continue to go higher and therefore I like the idea of going long for the next couple of months.
Please let us know what you think in the comments below