Yahoo Finance Natural Gas Price Forecast – Natural Gas Markets Have a Quiet Friday
Natural Gas Technical Analysis
Natural gas markets have gapped a little bit to open up the trading session on Friday, showing signs of life as we are hanging about the 200 Day EMA. The market has been decimated as of late, so it does make quite a bit of sense that we would see this type of noise. Because of this, I think that a huge bounce could be coming, but that bounce will more likely than not be sold into as the market continues to see a lot of volatility.
Keep in mind that the Americans are not going to be supplying the Europeans with liquefied natural gas now, so that puts a lot of pressure on pricing as it had gotten so far out of hand. Because of this, I do believe that it is probably only a matter of time before we reach the $4.00 level, but that will take quite a while to get to. Ultimately, this is a market that I think given enough time will decide to head back to more historic norms. The market continues to be rather noisy, but I do think that eventually all rallies get sold into so I would be looking to “fade rallies” every time I get an opportunity.
The $6.50 level should now offer a bit of the ceiling in the market, with the added caveat that there’s a lot of noise between there and the 50 Day EMA. With all that being said, believe this is a market that continues to look lower. With a global recession on the horizon, demand for natural gas should drive.
Natural Gas Price Forecast Video for 04.07.22
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This article was originally posted on FX Empire
