Natural Gas Price Forecast – Natural Gas Markets Rally Again

Natural Gas Technical Analysis

Natural gas markets have rallied significantly during the trading session on Wednesday to break above the $8.75 level. At this point, it’s very likely that we will go chasing the $9.00 level. If you look at yesterday’s analysis, I said that we would either break to $9 or $7. It looks as if we have our answer at this point. The 50-Day EMA is now underneath and should offer a certain amount of support.

That being said, it’ll be interesting to see whether or not the $9.00 level is going to offer resistance. Any signs of exhaustion will be jumped on, but if we were to somehow break above the $9.00 level, then it’s likely that the market could go looking to the $10.00 level yet again. We will continue to see a lot of noisy behavior, but quite frankly what we have is a market that has no idea what to do with itself other than making violent moves.

I have been saying for a while that this is a market that you need to be very cautious with and trade small positions due to the fact that it will suddenly jump or fall 6% in the blink of an eye. If we break down below the recent low, then it’s possible that we could go down to the $7 level where the 200-Day EMA is. I don’t think at this point in time it’s only a matter of time before both buyers and sellers will lose money. This type of volatility is extraordinarily dangerous, but it’s worth noting that we have basically fulfilled the “rising wedge” target.

Natural Gas Price Forecast Video for 15.09.22

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