Natural Gas Price Forecast – Natural Gas Continues to See Noise

Natural Gas Technical Analysis

The natural gas markets have been slightly positive during the early hours on Friday as market participants continue to see the $3 level as an area that people will react to. If we can break above the $3 level, then natural gas could very well take on to the upside. All things being equal, this is a market that continues to see a lot of upward momentum, mainly due to the concerns of demand coming into the colder months in the United States.

And of course, we just had the hurricane and the second hurricane. So, we’ll have to see how that affects supply. Either way, this time of year is typically somewhat bullish, so it’s worth paying attention to. Short-term pullbacks more likely than not will end up being buying opportunities at the $2.85 level. And then again, all the way down to the $2.50 level.

As far as where we’re going from here, if we can get above the $3 level, then I think the $3.15 area might be an area worth paying close attention to because breaking above there would be a fresh new high and could open up new real estate for chartists. As things stand right now, I think this remains more or less a buy on the dip market, but you need to do so with reasonable positions because quite frankly, natural gas is far too volatile to hang onto a massive sized position.

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