Weekly Natural Gas Price Forecast

Natural Gas Weekly Technical Analysis

Natural gas markets tried to rally earlier in the week, but then crashed as it appears LNG exports to Europe will not come from America. I don’t know why we keep arguing about it because it’s a logistical impossibility. That being said, markets tend to be story-driven, and I recently had a chat with a multi-millionaire trader from Monaco who had no idea this was essentially a domestic deal. In other words, you’d be surprised how few people are now.

From a technical perspective, if we were to break below the low of the candlestick, it suggests that we still have a lot to do. We might go down to the 50-week EMA, which is closer to the $6.50 level. Anyway, when you look at this chart, you can see how volatile it has been over the past few months, and it certainly looks like we’re going to continue to see the same.

If we do rally, we are obviously dealing with a lot of resistance above it, with the $10.00 level being a major resistance barrier. As we were unable to break above this level, this tells me that this is a market with very little momentum to break above this area. However, if we were to break above the $10 level, chances are we could go much higher. All things being equal, it will likely be easier to trade this market from the short-term load, perhaps easing signs of exhaustion on the daily chart.

Natural Gas Price Prediction Video for the Week of 09.19.22

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