Natural Gas Price Forecast – Natural Gas Markets Rally Again

Natural Gas Technical Analysis

Natural gas markets initially pulled back during the trading session on Monday but have found plenty of buyers underneath the $8.00 level. In fact, the natural gas markets have been quite strong during the day, and if we can hang onto the gains, this could be a sign that we are going much higher. Obviously, there has been a lot of noise recently in this general vicinity, as the area between the $8.00 level and the $8.50 level continues to be very noisy. In general, this is a situation where we will continue to see back-and-forth trading, as the market is trying to figure out what to do about the Russian situation still.

If we were to break down below the last couple of trading sessions, then it allows for a bigger pullback. The market breaking down that way more than likely will try to find the 50 Day EMA, which is sitting just below the $7.00 level. Alternately, if we break above the $8.50 level, then I do not anything that we keep this market from reaching the $9.00 level. In that scenario, we might see a bit of “market memory” come into play as it was the recent high but breaking above there would open up yet another leg higher.

It is difficult to believe that demand is going to be that high in the native country of the contract, but at this point, it does not seem to be a concern for most traders. Ultimately, I think that given enough time natural gas markets will have a major collapse, but we are obviously nowhere near that.

Natural Gas Price Forecast Video 24.05.22

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