Natural Gas Weekly Price Outlook – Natural Gas Rallies for the Week

Natural Gas Weekly Technical Analysis

Natural gas markets have initially fallen during the week only to turn around and rally again. We did roll over this week, so we’re now in the September contract, but you can see that we were pretty bullish the previous week, and we are continuing higher. However, we are also right in an area that had previously been support. So, one would assume that it shouldn’t end up being resistant. Pulling back from here does make a certain amount of sense and I fully expect it to happen sooner or later, but we haven’t seen the signs of exhaustion that I’d be looking forward to start shorting.

That probably would appear on the daily chart anyway, so you have to be very cautious with that. But at the end of the day, I do think you’ve got a situation where if we continue to rally from here, the 50 week EMA at $3.24, which is right around where the 200 day EMA is, probably is your next target and or resistance barrier. We are a little early for the bullish time of year for natural gas. So, it’ll be interesting to see whether or not that actually plays out.

I don’t necessarily think that we are in a situation where we have reached the bottom and we are turning back around. I would anticipate probably o3ne more drop and then we start to focus on fall. And once we start to focus on fall, then prices will be a little bit higher, heading into winter obviously it’ll start to accelerate to the upside. So right now I think we’re in a transition phase, but I don’t think we’re quite out of the woods yet when it comes to any selling pressure

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