Natural Gas Price Forecast – Natural Gas Markets Continue to Drift

Natural Gas Price Forecast Video for 29.03.23

Natural Gas Technical Analysis

Natural gas markets have fallen slightly during the trading session on Tuesday as we continue to drift towards the $2.00 level. The one thing that’s worth paying close attention to is the fact that the $2.00 level is a large, round, psychologically significant figure, and an area that a lot of people will pay close attention to. The $2.00 level has previously been somewhat supportive, and now we are testing the lows again. At this point, it looks like we are trying to form some type of larger consolidation area, but if we do break down below the $2.00 level, it’s likely that we go looking to the $1.80 level.

On the upside, the $3.00 level is more likely than not going to cause a certain amount of resistance, especially now that the 50-Day EMA sits just below the level, therefore I think it adds more credence to the idea of a short-term top. I’d like to see some type of short-term rally that I can take advantage of, selling signs of exhaustion as they occur. This is a market that will more likely than not continue to suffer at the hands of warmer temperatures coming to the northern hemisphere, and of course the idea of a lack of industrial demand. After all, if the world is going to slow down, then it’s very unlikely that industrial demand is picking up anytime soon.

With this, I fade rallies that show signs of exhaustion, and even if we break above the $3.00 level, I don’t think we will get anywhere north of the $4.00 level anytime soon.

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