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

[DiscoverGold]

Natural Gas Continues to Look For Bottom
By: Christopher Lewis | March 15, 2024

• Natural Gas markets continue to look for a bottom in what has been a horrific market over the last year or so.

Natural Gas Weekly Technical Analysis

The natural gas weekly chart has shown a negative candle for the week as we continue to bounce around the bottom. At this point though, we are so low and at such a significant barrier that I do think longer term buy and hold types are starting to come into the market. I have gotten involved in an ETF again. I don’t want to get over levered in a market that could take months to turn around, but we are clearly in an area that in the past, we have seen a lot of support.

This will be the third time we’ve visited it since 2015. So historically it has worked out quite well for a bounce to about $3, maybe even as much as $4. Now, having said that, the trick of course is that you don’t want to be overly levered because you could get hurt.

On the other hand though, if you have an investment type of frame of mind, then you can really start to see how this could play out in your favor. Again though, time is something that you’re going to have to be able to deal with. This is not likely to be a quick payout, unless of course we get some type of nasty winter storm at the end of the season in the Northern Hemisphere. We could very well just spend most of spring and summer just consolidating.

Read Full Story »»»

DiscoverGold