Natural Gas Weekly Price Forecast – Natural Gas Markets Go Parabolic Again

Natural Gas Weekly Technical Analysis

Natural gas markets have rallied a bit during the trading week to reach the $9.00 level and the market pulling back from here could be more likely the case than not, but it is worth noting that at least the gains were a little bit more stringent this time. If we can break above the $9.00 level, on at least a daily close, could open up a significant move to the upside. At that point, I would anticipate that the $10.00 level could be targeted.

On the other hand, it’s more likely than not we will see this market fade, but it is going to be difficult to hang onto it, so if you do feel the need to mess around in this market, you need to be cautious about the position size as the volatility continues to be extraordinary. At this point, I think the market will continue to be volatile, with the idea of Russian cutbacks on natural gas driving the demand up in Europe. Ironically, none of this gas ends up in Europe, but it does not seem to bother traders.

This is not a huge surprise, I’ve recently had a conversation with somebody who drives a Maserati and lives in Monaco, trading natural gas for over 20 years. He’s the typical type of trader, over 60, has a 30-something wife, and no brains. I had to explain to him that “Henry Hub” natural gas is called so because it is in Henry, Louisiana. This gas is very expensive to send overseas, and most of that do get exported already is claimed by Asia. Astonishing. Nonetheless, we need to trade price.

Natural Gas Price Forecast Video for the Week of 15.08.22

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