Natural Gas Price Forecast – Natural Gas Markets Tighten

Natural Gas Technical Analysis

Natural gas markets have dropped just a bit during the trading session on Tuesday as we continue to hug a trendline that I have marked on the chart. At this point, the market is likely to continue to see a lot of noisy behavior, as the 200-Day EMA sits just above, and is offering a bit of resistance. The 50-Day EMA is now starting to dip toward the 200-Day EMA, and if we do break down below there, it kicks off the so-called “death cross” that a lot of people pay close attention to.

That being said, if we do break above those moving averages, it opens up the possibility of a move to the $7.00 level. After that, it’s possible that we could go to the $7.50 level, and as a result I think you’ve got a situation where you are more likely than not going to see rallies faded at the first signs of exhaustion. Ultimately, I do think that we got a scenario where it’s likely we break down below the uptrend line, to go down to the $6.00 level. Breaking down below the $6.00 level, then it’s possible that we could go down to the $5.50 level.

Keep in mind that natural gas is dealing with the idea of the Freeport LNG terminal staying close longer than initially thought. This means that there won’t be massive exports to the European Union, which was part of what got everybody excited. At this point, I suspect that we have more downward pressure than anything else, so I fully anticipate that the market continues to drift lower. That being said, this is a very erratic market under the best of circumstances.

Natural Gas Price Forecast Video for 16.11.22

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