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Natural Gas Price Forecast – Natural Gas Finds Buyers on Dips
By: Christopher Lewis | August 5, 2022

• Natural gas markets have fallen a bit during the trading session on Friday, but have also found buyers near the $8.00 level.

Natural Gas Technical Analysis

Natural gas markets have fallen a bit during the trading session on Friday but then turned around to show signs of life near the $8.00 level. This obviously is a large, round, psychologically significant figure, and an area where we would have to pay close attention to. That being said, the market is still elevated, so it’ll be interesting to see whether or not we can continue to stay this positive.

Looking at this chart, if we break down below the $8.00 level, it could open up the possibility of a move down to the 50 Day EMA. Most of what we are looking at is a situation where the market is to continue looking to go higher, at least in the short term. Longer-term, it has very little chance of hanging onto these gains simply due to the fact that sooner or later demand gets destroyed.

The $9.00 level should continue to offer resistance, and eventually I think that exhaustion comes back into the market. If we break down below the 50 Day EMA, then it’s likely that the $7.00 level will be targeted next. After that, then the 200 Day EMA gets targeted near the $6.16 level.

Either way, this is a market that is going to remain very noisy and volatile, so either way, you are probably better off leaving him alone. Quite frankly, natural gas is not a retail market to say the least. However, as so many people want to trade it, the only thing I can tell you is to be very cautious with your position size, as it is one of the few things you can truly control in this chaotic environment.

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