Natural Gas Price Forecast – Natural Gas Markets Rally Toward the 50-Day EMA

Natural Gas Price Forecast Video for 15.06.23

Natural Gas Technical Analysis

Natural gas markets have rallied just a bit during the trading session on Wednesday, as we are heading toward the crucial 50-Day EMA. The 50-Day EMA is an indicator that a lot of people will pay close attention to, and therefore is likely that we will see a lot of volatility. That being said, it’s a very tight range, as it is summer and therefore it’s very likely that we won’t have much in the way of clarity. After all, there will not be a lot of demand for natural gas, especially now that the global economy is slowing down.

However, it’s probably worth noting that a lot of large investors are starting to build up positions, as they are trying to front run the idea of the European shortage that will undoubtedly be part of the game later this year. With that being the case, the market is more likely than not going to continue to see the $2.00 level as a major support level, perhaps even extending down to the $1.80 level. On the upside, if the market were to break above the 50-Day EMA, then the market could go looking to the $2.75 level, and then eventually the $3.00 level after that, which I think is the top of the overall range.

That being said, the market is very likely to see a lot of back-and-forth in short-term trading, and therefore we have to look at this through the idea of short-term scalping more than anything else. I don’t think we get extended moves anytime soon, so therefore you need to look at this as an opportunity to continue to build up profits in your account, but in small bits and pieces, as it gives you an opportunity to take advantage of what could be a longer-term trade down the road, but in the meantime you are simply building up your trading capital in order to prepare for the bigger move to the upside as we start to exit the overall summer range. We have a few months before that probably happens, so therefore a lot of patience will be needed if you’re looking for the bigger move.

For a look at all of today’s economic events, check out our economic calendar.