Natural Gas Price Forecast – Natural gas markets showing signs of stability

Natural gas markets went back and forth during the trading session on Thursday as we get a much more bearish than anticipated inventory figure. That being the case, the market looks as if it is ready to bounce though, as the move went against the grain of what you would think. At this point, the bottom of the day for the trading session on Thursday would be considered a support barrier, and if we can break above the top of the Thursday candle stick could be a bullish sign. Keep in mind, we are heading towards the colder months and that should continue to put upward pressure given enough time.

NATGAS Video 04.10.19

All things being equal, if we do break down below the $2.15 level though, then things could change rather drastically, especially considering that the time of year typically means that we are going higher. The 50 day EMA is currently at the $2.38 level, and that could be a level that gives a little bit of a pushback. However, once we break above there I think that the market could take off to the upside for a bigger move. We are quickly approaching that time of year where we should see buyers jump in, so I believe at this point we are looking for another push towards that area, and then perhaps an impulsive leg higher. Nat gas is taking its time, but we are starting to get close to that time where it’s one of the easiest markets to be involved in.

Please let us know what you think in the comments below