Natural Gas Price Forecast November 27, 2017, Technical Analysis

Natural gas markets continue to look very negative, as the markets have now fallen enough to test the $2.85 region, the bottom of the overall consolidation that we have seen for several months previously. The market breaking down the way it has is a very negative sign, and is extraordinary considering that we are in the coldest part of the year, and a man still can’t take care of the natural gas negativity. The market breaking below the $2.85 level could send natural gas down to the $2.75 level over the longer term. At this point though, I think that the market trying to rally from here would be a nice selling opportunity. I have no interest in trying to go long of a market that can’t even keep up its bullish pressure and what should be the time a year it thrives, so therefore I think every time this market rallies, you should step in and start selling as the selling pressure will certainly punish natural gas.

If we managed to break down below the $2.75 level, the market will collapse at that point, perhaps going as low as $2.50 after that. The $3.00 level above should continue to be massive resistance, and I would be a bit surprised to see this market break out above there. They move above the $3.10 level would be very bullish, but right now I just don’t see how it happens. You can see that the 24-hour exponential moving average has worked out quite well for dynamic resistance over the last several days, so therefore I think that the sellers have not only become aggressive, but picked up a couple of weeks ago to the upside. P their volume as well. Natural gas continues to punish those who would buy it, even after an impressive

NATGAS Video 27.11.17