Natural Gas Price Forecast – Natural Gas Markets Sit at the 200-Day EMA

Natural Gas Technical Analysis

Natural Gas markets initially tried to rally during the trading session on Thursday but gave back gains and plunge to below the 200-Day EMA yet again. Ultimately, the natural gas markets continue to struggle, but I think were trying to form some type of base in this area. That does make sense, a lot of algorithms like the idea of the 200-Day EMA, and of course old technical analysis suggests that it is the floor in the trend.

If we break down below the hammer from the Wednesday session, then it’s possible that we could continue plunging from here. I don’t necessarily expect that to be the case, but it is a potential minefield. Ultimately, this is a market that if we do rally from here, I think the 50-Day EMA is just below the $8.00 level, and is driving lower.

Because of this, I think it’s a situation where you probably have quite a bit of selling pressure above, and therefore I think that although we are a little oversold, the relief rally will probably be sold into as well. With this being the case, I do anticipate that we are going to see lower pricing, but at the very least we probably need to consolidate, if not rally a bit to offer another opportunity to get short.

The US dollar has been strengthening quite a bit, and that has a certain amount of an effect in this market, but more importantly, we are seeing a global slowdown and that should cause major problems for energy demand, as seen not only here, but in the petroleum markets as well.

Natural Gas Price Forecast Video for 30.09.22

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