Natural Gas Price Forecast – Natural Gas Markets Continue to Fall

Natural Gas Price Forecast Video for 02.01.23

Natural Gas Technical Analysis

Natural gas markets have fallen again during the trading session on Friday, as we are now substantially below the $4.50 level. Because of this, I think the market is likely to continue seeing a lot of negative pressure, and it’s probably only a matter of time before the market reaches the $4.00 level. Rallies at this point will almost certainly be sold into, and the first signs of exhaustion I will be more than willing to jump on.

Freeport Texas has reopened its LNG refinery, and therefore it’s flooded market with gas, right at the same time that industrial demand is expected to drop off of a cliff. With that being the case, and of course the fact that Europe can now be supplied a little easier, this does help the idea of natural gas falling back to more normal levels. In fact, we are getting relatively close to looking at springtime contracts, which obviously will demand the lot less.

On the upside, I suspect that the $5.50 level is a major barrier, right along with that gap above that hasn’t really been filled near $6.25. I anticipate that the next major storm in the northeastern part of the United States probably kickoff that move, which will be sold into almost as quickly as it rises. After that, we are probably done with the bullish market in natural gas, at least for the next several months. This has been an astonishingly bearish market as of late, and it looks like it’s still trying to figure out where the bottom is. It’s obviously not found it yet.

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