Natural Gas Price Forecast – Natural Gas Markets Look Likely to Bounce

Natural Gas Price Forecast Video for 03.01.23

Natural Gas Technical Analysis

Natural gas markets have stabilized a bit over the last couple of sessions, but Monday were closed in the futures pits. That being said, you can only read so much into the CFD markets, so you should be cautious with that. The noise in this area does make a certain amount of sense, due to the fact that it’s right around the $4.50 level. That’s an area that would make a certain amount of sense as support.

If we do rally from here, then the 50-Day EMA could be a resistant barrier, as it is an area that we have paid close attention to, so we could rally all the way to the $6.10 level and still be in a rather negative trend. That being said, I do expect a little bit of a bounce, just because we had gotten so oversold. The $4.50 level is an area where you would expect to see a significant amount of support, based upon previous action as history has seen it show its importance more than once.

That being said, we are oversold so I think this bounce makes a lot of sense and it could offer a nice selling opportunity if we see some type of exhaustion that we can take advantage of as the trend, and of course the fact that most people are focusing on the fact that there is going to be a lot less demand out there due to the fact that the global economy is going to continue to struggle into 2023. Because of this, I think it’s only a matter of time before the sellers come back.

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