Natural Gas Price Forecast – Natural Gas Trying To Break Out

Natural gas markets rallied again during the trading session on Wednesday, showing signs of bullish pressure yet again. We are approaching the highs that the market had hit previously. If we can break above there, then we have a “fresh new high” coming into the picture. By doing so, it suggests that the market is likely to continue the overall uptrend. The 200 day EMA underneath at the $2.54 level looks to be supportive, and it is of course a longer-term trend following indicators that people pay attention to. At this point, short-term pullback should be buying opportunities just as a break above the $2.72 level kicks off this next move higher.

NATGAS Video 31.10.19

The natural gas markets will continue to show strength due to the fact that the weather in the United States is starting to turn colder, and as we are trading the December contract as the front month. Ultimately, this is a market that continues to be very bullish so I would look at opportunities lower to start buying again. The market looks likely to go looking towards the $3.00 level next, and then possibly even higher than that. To the downside, the 50 day EMA offers a significant amount of support base not only because of the indicator, but also the Is right in that area as well that has yet to be filled. Either way, it’s only a matter of time before the markets break out to the upside, doing the usual cyclical trade.

Please let us know what you think in the comments below