Natural Gas Price Forecast – Natural Gas Markets Continue to Consolidate

Natural Gas Price Forecast Video for 27-12-2023

Natural Gas Technical Analysis

Natural gas markets fell just a bit during the trading session on Tuesday, only to turn around and show signs of life. The 20-Day EMA sits just above offering a significant amount of resistance. The $2.50 level is an area that also comes into the picture, so therefore I think it does make a certain amount of sense that we just simply kill time. Beyond that, we are also between the major holidays that will keep liquidity low, so therefore I think you’ve got a situation where you probably are counting on more sideways action than anything else. If we were to break above the recent highs from last week, then it opens up the possibility of a move to the 50-Day EMA.

If we break down below the $2.40 level, it opens up the possibility of a move down to the $2.20 level, but ultimately, I think this is a market that is doing everything we can to rally significantly. All things being equal, this is a situation where the markets are trying to determine where we’re going over the longer term, but in the short term, it’s likely that we would see uncertainty and noise, especially as we are already starting to look toward spring, and so far, the winter has been essentially a bust for natural gas, therefore it’s likely that we see a lot of uncertainty in this market, and therefore I think lackluster momentum. With this, I think it’s a situation where the markets are simply going to be a bit of a short-term type of range bound market.

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