Natural Gas Price Forecast – Natural Gas Markets Stabilize After Initial Dip

Natural Gas Technical Analysis

Natural gas markets moved lower to kick off the trading session on Friday, but then stabilized a bit as we started to see buyers stepping in around the $8.00 level. Keep in mind that natural gas is expanded, but that doesn’t necessarily mean it has to decay significantly. At this point, it’s obvious to me that the markets will continue to favor the upside, especially since we’ve formed a long downside tail.

The ongoing saga in Ukraine will also continue to influence the markets, and since there is no real end in sight, I think we probably have a situation where traders will jump on any dip that they can. Given enough time, we’ll have to come to some kind of resolution, but right now it seems like fear is the only thing that’s fully available.

As I’ve been saying for a few weeks, as long as we stay above the $6.50 level, I just don’t see an opportunity to short this market anytime soon. I recognize that breaking below the $6.50 level would take quite a bit of effort at this point, but this is also an obvious place where we had already seen resistance and also tested several times to show signs of life. . The 50-day EMA is just above it, so it’s probably worth paying attention to as well, so there should be plenty of buyers below it. On the upside, the $9.00 level will continue to be a bit of a short-term ceiling.

Natural Gas Price Forecast Video 23.05.22

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