Natural Gas Price Forecast – Natural Gas Markets Were Stagnant on Monday

Natural Gas Price Forecast Video for 27.06.23

Natural Gas Technical Analysis

The natural gas markets have done very little during the trading session on Monday as we continue to look above the $3.00 level as a major resistance barrier. Whether or not we can break above there remains to be seen, but ultimately, it’s a situation where we have seen a lot of selling pressure there previously, and I do think that it’s worth paying close attention to as a result. If we were to break above the $3.00 level, it could open up and move all the way to the 200-Day EMA. That being said, we could also turn around and fall from here, and that could open up the possibility of a drop down toward the $2.00 level. Granted, the $2.50 level between now and then will of course be an area that people pay attention to as well.

Ultimately, this is a market that has been trying to build up a bit of a basing pattern in order to perhaps recover, but it is the middle of the summer, which is a time when natural gas demand is somewhat lax. You also have to keep in mind that it’s a major concern out there when it comes to global demand due to industrial slowdowns around the world.

If we do pull back from here, the $2.50 level could be an area of support, and I do think that the $2.00 level will continue to be a massive support. With this, I think it’s probably only a matter of time before we see buyers come back into the market if we get anywhere near that level. In fact, I do believe that we are going to continue to see a bit of position-building for the longer-term move later this year. After all, the Europeans are going to have to refill their natural gas storage tanks for the winter, and it’s only a matter of time before they come knocking on the door of Louisiana to start buying liquefied natural gas from the United States. On that accident, I am more than willing to step in and start buying natural gas, perhaps through an ETF so that I can avoid the massive problems with leverage, but I do think that this is going to be a good investment given enough time.

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