Yahoo Finance Natural Gas Price Forecast – Natural gas markets rally to start week
Natural gas markets got a bit of a boost kick off the week on Monday, as we continue to grind back and forth at the $2.85 level. This is an area that has been rather important as of late, so although we have seen the market be somewhat resilient as of late, the longer-term trend is most certainly to the downside and it seems as if sellers come back every time it looks as if there is a little bit of hope. Overall, the $3.00 level above is massive resistance, and I think it’s going to be almost impossible to break above there.
NATGAS Video 19.03.19
Speaking of the $3.00 level, there is a gap there that has not been filled and should continue to act as a major resistance. Beyond that, we have the 50 day EMA just under that level as well, as we could continue to find massive resistance based upon that technical signal as well. To the downside, the $2.50 level underneath is a massive “floor” in the market, something that I don’t think will be broken anytime soon. In other words, we are probably entering another range that we can play that is roughly $0.50 tall. If we were to break above the $3.00 level, that would obviously be a very bullish sign, but we also have the 200 day EMA at roughly $3.10, so that would be your next major resistance barrier.
Please let us know what you think in the comments below
This article was originally posted on FX Empire
