Natural Gas Price Forecast – natural gas markets grind lower during Friday session

The natural gas markets went lower during the trading session on Friday, grinding below the $2.77 level as we continue to see a lot of weakness in this market. That being the case, I think that we continue to sell this market every time at rallies, as it shows a significant proclivity to fade those moves. However, I think that the market will continue to be very choppy to say the least, and it’s very likely that we will struggle for clarity at times. However, if you can focus on the longer-term charts, you can recognize that the $2.70 level underneath is massive support.

The market has been offering strong buying opportunities down to that level, so I think that we will continue to see it grind down to that level before large amounts of money comes back into the marketplace and takes out the sellers. We have seen this market offer plenty of longer-term trading opportunities between the $3.00 level and the $2.70 level, so this point I have to assume that the market simply continues more of the same. We are probably going to see the $2.70 level tested again, and until then I’m a seller. Overall, I think that the market is offering two different traits. I’m a short-term seller, but I will be looking for a major bounce coming soon. Until we break out of this massive range, there’s not much you can do beyond play it.

NATGAS Video 10.09.18