Natural Gas Weekly Price Forecast – Natural Gas Markets Have Another Bad Week

Natural Gas Price Forecast Video for 20.02.23

Natural Gas Weekly Technical Analysis

Natural gas markets have fallen rather significantly during the course of the trading week, showing signs of exhaustion and of course negativity every time somebody steps in and tries to buy it. Quite frankly, this looks a lot like crypto, as it’s about the only market I can think of that has melted down like this in the recent past. What’s even more impressive is the fact that nobody’s bothered to try to pick it back up, therefore I think we go lower. The $2.00 level makes for a reasonable target at this point, but I would not necessarily hold my breath for clarity. After all, this is a market that has sold off so aggressively that it’s almost like they are getting ready to give it away for free.

Ultimately, if we break down below the $2.00 level, that’s it. I have nothing for you at that point. Rallies at this juncture should end up being selling opportunities every time we try, with the $3.00 level being an obvious resistant barrier, followed by the $4.00 level. With this, I think we’ve got a situation where we are looking to fade any signs of exhaustion that we can get involved in, especially if we get anywhere near the 200-Week EMA, which is a $4.38. That being said, I just don’t see it happening any time soon.

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