Natural Gas Price Prediction – Prices Rebound to Finish the Week in the Black

On Friday, natural gas prices rebounded 5% and finished the week nearly unchanged up 0.4%. For the year natural gas prices were up 32%. Colder than average weather is expected to move down into the center of the United States over the next 2-weeks. The weather will remain warmer than normal on the East Coast.

Technical Analysis

On Friday, natural gas prices rebounded 5%, following a 7% decline on Thursday. Prices closed at a 6-month low, on Thursday. Target support is seen near April lows at 2.45. Short-term momentum is positive as the fast stochastic generated a crossover buy signal. Medium-term positive momentum is decelerating as the MACD (moving average convergence divergence) histogram is printing in positive territory with a declining trajectory which points to consolidation.

 LNG Exports Declined

U.S. LNG exports decreased by five vessels this week from last week. Twenty-one LNG vessels eight from Sabine Pass, four each from Cameron, Corpus Christi and Freeport, and one from Cove Point with a combined LNG-carrying capacity of 80 Bcf departed the United States between December 9 and December 15, 2021, according to shipping data provided by the Energy Information Administration.