Natural Gas Price Forecast – Natural Gas Markets Continue to Pressure Resistance

Natural Gas Price Forecast Video for 06.10.23

Natural Gas Technical Analysis

Natural gas markets have shown themselves to be rather stubbornly bullish, as it looks like we are doing everything we can to break out of the resistance barrier, which currently is right around the $3.00 level. Ultimately, I do think that it will take a significant amount of pressure to make that move, but I also believe that it’s only a matter of time before it happens. After all, we are heading toward the colder months of the year in the northern hemisphere, so natural demand will drive prices higher.

Just above, we have the 200-Day EMA, which of course is something that you need to pay attention to and will cause a little bit of technical trading. However, as we squeeze between the 50-Day EMA and the 200-Day EMA indicators, it’s worth noting that eventually inertia takes over and the market will squeeze in one direction or the other. Because of this, and the fact that it is now October, I suspect that we are getting rather close to some type of major breakout.

If you have been reading my analysis over the last couple of months, you know that I have been building position and natural gas for this rally. Quite frankly, I’m tired of waiting but at the end of the day, if you are not levered in your position, then you have the ability to ride out any type of pullback. That’s the route I have taken here, playing the ETF in the United States called UNG. However, if you do not have the ability to trade in ETF, you can always use the CFD market, as it allows for position sizing that can keep you in the game.

Going into the futures market is a very difficult thing to do right now, and quite frankly natural gas futures are not a place for retail traders anyway. They tend to move on the latest weather reports, and unless you know what’s going on in the Gulf of Mexico at any given moment, you’re probably going to face a lot of problems. However, with the lack of natural gas for the European Union this year, I suspect that natural gas is going to spike like it did last year.

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