Natural Gas Technical Analysis
Natural gas markets swung back and forth during Wednesday’s trading session as it looked like we were lacking a bit of momentum. Ultimately, the market seems to want to try to use the $8.00 level as support, and if we break below, we might get a little bigger pullback.
Regardless of what you think of the market, it is obvious that it has rebounded quite drastically and in a very short time. Because of this, the market will most likely continue to cause a lot of loud behavior and may need to drop to find buyers. Ultimately, the $6.50 level is the “market floor” and the trend, so you need to keep that in mind.
On the other hand, if the market were to break above the highs of Wednesday’s trading session, then the market could go for the $9.00 level. Breaking through the $9.00 level opens up the possibility of an even bigger move, as we have seen so much buying activity. Nonetheless, I think after six consecutive days of gains, it makes more sense for us to pull back than anything else. I don’t know if I would necessarily sell this market unless you have the ability to sit in front of the charts all day and maybe base your trading position on short term charts and therefore be as reactive as possible with this volatility.
Natural Gas Price Forecast Video 19.05.22
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