Natural Gas Weekly Price Forecast – Natural Gas Markets Continue to Stagnate

Natural Gas Price Forecast Video for 15.05.23

Natural Gas Weekly Technical Analysis

Natural gas markets initially tried to rally a bit during the trading week, as we have seen quite a bit of lackluster behavior in the market. That being said, natural gas is very quiet at the moment, and therefore you have to look at it through the prism of potentially waiting for a bigger move overall. The $2.00 level underneath continues to offer significant support, but I think at this point in time it’s probably more or less going to be a situation where even if we do break down below the $2.00 level, there’s only so far the market can drop. I see a bit of noise all the way down to the $1.80 level, therefore I think that’s probably going to be more or less a “support zone” underneath.

For longer-term traders, what they are looking for is an area that offers a bit of value. After all, it’s difficult to imagine a scenario where the natural gas markets stay this low forever, especially with the Europeans needing to build up supply for the coming colder months. That being said, we have a little while before we have to worry about that, and therefore I think you’ve got a situation where traders will continue to look at this through the prism of picking up value. I also think it’s going to be a bit of a base building exercise, meaning that we may somewhat sputter around the $2.00 level for a while, offering plenty of time to build up bigger positions for those who are looking for a massive swing trade this fall.

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