Natural Gas Price Forecast – Natural Gas Markets Gap HigherNatural gas markets have gapped higher to kick off the trading session on Monday, reaching towards the $2.75 level before pulling back just a little bit.
Natural gas markets have gapped higher to kick off the trading week, reaching towards the $2.75 level before pulling back. All things being equal, the market does look strong in the short term, but we are still facing a lot of noise just above so as you know, I have been looking for a reason to start shorting, so at this point in time I have to be patient and wait for some type of exhaustive candlestick. We do not have it yet, but there is a lot of noise between here and $2.86, so I am simply hoping to see something along the lines of a shooting star to start shorting again.
NATGAS Video 20.04.21
Underneath, we have the 50 day EMA that sits at the $2.65 level, and then of course the 200 day EMA is down at the two dollars level, and then finally support down at the $2.45 level. The market breaking above the highs near the $2.86 level would be very bullish, but probably just for the short term as although there have been cooler than typical days in the United States, it is only a matter of time before that demand gets worked off due to the fact that temperatures rising kill of the need for so much of the natural gas. All things been equal, this is a market that I think continues to see a lot of noisy behavior, but ultimately the cyclical trade will come back into vogue, so that is simply what I am waiting to get involved in as per usual. In fact, I do not have a scenario in which a willing to start buying.
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