Oil & Gas - Energy - Commodities - Resources (OILBRENT)

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Natural Gas Continues to Ride Commodity Boom
By: Christopher Lewis | June 14, 2021

• Natural gas markets continue to ride the commodity boom higher, as we initially saw a bit of a pullback, only to turn the market around and pressed the highs again.

Natural gas markets initially fell during the trading session on Monday as traders got back to work. That being said, the market is likely to continue seeing a lot of bullish and choppy behavior. That being said, the market is likely to continue to see a lot of noise. That being said, the $3.30 level is being picked upon by the buyers, and therefore we are still trying to seriously take a significant attempt at going higher. That being said, the market stalling in this area also makes sense as well.

To the downside, we could go looking towards the $3.15 level, but it does not look like we are ready to do so. The $3.40 level above is the top of the overall consolidation area that we are looking at from a longer-term standpoint, and if we can break above there, then it is possible that the market could go looking towards the $4.40 level. Having said that, this is a market that is very likely to face some serious questions soon, especially as we have to question whether or not the prices can continue to climb in an environment where demand is not going to be as strong over the next couple of months.

That being said, with the commodity boom going on the way it is, it is possible that we do get the breakout and therefore a sharp spike higher. This is the “wrong time of year” for this to happen, so I think that if we get some type of struggle in the commodities markets, the natural gas markets will almost certainly be the first place we see trouble.

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