Natural Gas Weekly Price Forecast – Natural Gas Markets Have Strong Week

Natural gas markets initially pulled back a bit during the week but then shot straight up in the air to reach towards the $2.83 level. You look at this chart, you can also see that there is a bit of a triangle be informed, so I think what we are looking at is a scenario that we continue to chop around, and I am simply waiting for exhaustion that I can take advantage of. After all, next week in the northern part of the United States we will see temperatures as high as 82°F, and that will almost certainly wear down the demand for the market. Furthermore, you can see that the $3.00 level is above, and it is obvious resistance.

NATGAS Video 26.04.21

I suspect that the market is probably going to continue to try to grind back and forth in this area until we get some type of clarity when it comes to inventories, and of course one would have to keep in mind that recently we had a shock in the form of freezing, so a certain amount of volume has been taken off-line. However, this is going to end up being a short-term scenario, so I simply wait for an opportunity to take the cyclical and seasonal trade that tends to work out for quite some time. In fact, I do not have any interest in buying this market until we get closer to the colder temperatures at the end of the year. Until then, it is a matter of being patient and waiting for an opportunity to get short yet again. Currently, I do not see that presenting itself.

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