Natural Gas Price Forecast – Natural Gas Markets Continue to Show Negativity

Natural Gas Price Forecast Video for 13.12.23

Natural Gas Technical Analysis

Natural gas markets have fallen again during the trading session on Tuesday, as traders continue to price in the idea some type of massive recession, and of course far too much in the way of supply. If that’s going to continue to be the case, we may just bounce around in this area, and the fact that we are heading into the holiday season also suggests that we could see a lot of noise overall. If we can turn around a break above the $2.50 level, then I think natural gas has a shot at trying to turn things around and rally. Ultimately, this is a market that could go looking to the $3.00 level, but it would take some time to get there.

On the downside, the $2.00 level will almost certainly be a major support level, and I think we need to pay close attention to that level. If we were to break down below that level, it would be horrific for the natural gas markets and at that point in time I really don’t know what to tell you. That would price in something rather ugly as it would suggest that not only will heating not be an issue this winter, but it would also suggest the fact that the markets might be suggesting that electricity demand would drop rather drastically, and that of course means that industry and industrial action would do the same. Ultimately, this is a market that sooner or later will find a bottom, but the selling has been so relentless that it’s difficult to get overly excited.

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