Natural Gas Weekly Price Forecast – Natural Gas Slams Into the 50-Week EMA

Natural Gas Weekly Technical Analysis

Natural gas markets have rallied during the week, showing signs of life again, but it’s worth noting that the market continues to see a lot of noisy behavior, so the question now isn’t so much as to whether or not we are trying to consolidate, but where we go next. If we can break above the $7.00 level, then I think you have a real shot at going back to the top of the range that I have marked on the chart, suggesting we could get fairly close to the $10.00 level.

On the other hand, if we were to break down below the $5.00 level, we could really start to fall apart at that point. I do think that we are probably due for some type of recovery rally, but at this point we may have already seen it. After all, there are a lot of concerns about a major slowdown economically around the world, which will have a negative influence on commodity demand, and then of course overall pricing power.

Keep an eye on Europe, because the natural gas supply over there is not as full as it would comfortably be in the circumstances that we find ourselves in, so if the weather in Europe starts to tank, that could be reason enough for natural gas to rally, perhaps much more than it normally would as this is a US centric market most the time. With that being said, you are probably going to have a better time trading this market from a range bound perspective on shorter charts.

Natural Gas Price Forecast Video for the Week of 07.11.22

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