Stock Markets News
Stock and Market News

Natural Gas Price Forecast – Natural Gas Nearing Breakout


Natural gas markets have gone back and forth during the course of the trading session on Tuesday as we are getting precariously close to the $3.40 level. The $3.40 level is a major area of resistance, and if we can break above here it is very likely that we could climb another $1.00 to the upside based upon the longer-term technical analysis. However, if we fail at this area, it could be the beginning of the fall of price into the summertime. Because of this, I think that the next couple of days could be crucial, but one thing is for certain here, the buyers have been very loud on the way up.

NATGAS Video 16.06.21

Underneath, the $3.00 level could be a very significant target as the 50 day EMA is starting to come into the picture. That being said, if we can break down below the 50 day EMA, that could change the overall outlook of this market. That being said though, I think that as far as shorting is concerned, we need to see the market take out the $3.20 level to the downside before doing so.

If we do break out to the upside, the $4.40 level is a target from what I can see, based upon not only that measured move but also the technical analysis from the longer-term standpoint. The $4.40 level has been very crucial in the past, so it will be very interesting to see how that plays out. Over the next couple of days, we are going to have serious discussions about inflation, and that right now is probably the biggest driver of this market. Above four dollars $3.40, I think that is an extraordinarily bullish sign.

For a look at all of today’s economic events, check out our economic calendar.



Read More: Natural Gas Price Forecast – Natural Gas Nearing Breakout

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.