Natural Gas Price Forecast – Natural Gas Running Into Headwinds

  • January 18, 2021 2:25 AM PST
    Natural gas markets have initially tried to rally during the trading
    session on Wednesday but gave back the gains near the $2.80 level. At
    this point, it looks like the market is ready to enter back into the
    consolidation area that we have been in previously, reaching down
    towards the gap underneath. The 200 day EMA sits at the $2.48 level, so I
    think that could be where we go, if we do pick up a little bit more in
    the way of negativity, and of course if weather starts to turn warmer.
    After all, this market tends to move based upon the most recent weather
    reports coming out of the northeastern part of the United States.To get
    more news about [url=https://www.wikifx.com/]WikiFX[/url], you can visit wikifx official website.

      NATGAS

      Looking at the overall attitude of the market, we have been falling
    for a while, and it does suggest that we are going to look for selling
    opportunities due to the fact that the warmer temperatures are coming,
    and of course it is going to drive down demand overall. That being said,
    I think the market probably would take off to the $3.00 level if we can
    break above the shooting star from the Tuesday session, because it
    would show a significant amount of momentum and strength of course.

      That being the case, the market is likely to pick up a bit of
    interest. That being said, the $3.00 level above is a gap that should
    cause significant resistance as well. Either way, I have no interest in
    buying natural gas, it is far too late in the year to start buying into a
    bullish case scenario. After all, demand will drop in the next few
    months.