Natural Gas Price Forecast – Natural Gas Markets Suffer More Downward Momentum

Natural gas markets initially tried to rally during the trading session on Wednesday, breaking above the 50 day EMA before rolling back over again. We are testing the lows of the Tuesday session as I write this article, and the micro That sits just below. However, there is an even bigger gap underneath at the $2.40 level that needs to be tested. There have been weather reports coming out that perhaps December will be a bit warmer in the United States than anticipated, but at this point it is only a matter of time before the market turns around and spikes to the upside. It is because of this that I have no interest in shorting this market.

NATGAS Video 28.11.19

Beyond that, you can also make the argument for an uptrend line testing that region as well, so things may line up perfectly to continue the uptrend and channel that the market has been trying to form for some time. With this, it’s likely that the market will try to find value underneath but given enough time we are likely to continue to go higher in the short term, at least until January. Given enough time there should be reason enough for markets the spike so I don’t have any interest in trying to short into this. All things being equal, I think that Will be massively supportive, and the technicals will probably line up with the fundamental situation next. With this, the market continues the upward “zigzag pattern”, and therefore I think that we continue to grind towards the recent highs, perhaps even higher than that.

Please let us know what you think in the comments below