Natural Gas Weekly Price Forecast – Natural Gas Markets Give Up Early Gains for the Week

Natural Gas Price Forecast Video for 20.11.23

Natural Gas Weekly Technical Analysis

Natural gas markets initially tried to rally during the course of the trading week but gave back gains as we continue to see a lot of volatility. All things being equal, this is a market that I think given enough time will eventually tried to sort itself out and perhaps go higher, as demand for natural gas will pick up. Keep in mind that a lot of what moves this market is going to be the short term weather forecast in the United States, and therefore you have to be cognizant of this. That being said, the 50-Week EMA above being broken to the upside would be a very strong sign that we are going higher.

We continue to see the $3.00 level in the futures market offer support, and I do think that probably continues to be the case. Either way, this is a market that I think given enough time we will eventually see a turnaround, due to the lack of natural gas in the European Union this winter, and of course the fact that temperatures are going to get colder sooner rather than later. That being said, natural gas markets do tend to focus on short-term weather patterns, so the volatility will probably continue to be a major issue.

With this, I remain bullish but I also recognize the need to be very cautious with your position sizing. With the uncertainty around the world and the geopolitical concerns, that can also come into the picture as well. Currently, the one thing that is working against natural gas seems to be the fact that economies are slowing down.

For a look at all of today’s economic events, check out our economic calendar.