Natural Gas Weekly Price Forecast – Natural Gas Markets Continue To See Base Building

Natural Gas Price Forecast Video for 26.12.23

Natural Gas Weekly Technical Analysis

Natural gas markets have gone back and forth during the course of the trading week right around the $2.50 level, and the $2.50 level course is an area that attracts a certain amount of attention based on the fact that it is a midcentury mark, and of course an area where we would probably see a lot of options barriers. With that being the case, I think it’s probably only a matter of time before we have to make a bigger decision. I think there is plenty of support underneath down to the $2.00 level, so with that being the case, it is probably more or less a short-term “buy on the dips” type of market, but for longer term traders, I think we continue to try to carve out some type of consolidation pattern.

Underneath, I see the $2.00 level as a major support level, and the $3.33 level above as a major resistance barrier. I don’t know if we get back to the $3.33 level quickly, but I do think that it is a real possibility. In general, this is a market that I think will be very noisy to say the least, but if you are more short-term incline, it looks like the longer term charts are starting to carve out a range for you to trade in. Keep in mind that natural gas tends to move in its own world, as the weather patterns have a major part to play, and then of course you have to worry about things like natural gas supply, shipping lanes, and of course transmission mechanisms in the United States. Regardless, this is a market that I think is forming a range.

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