Yahoo Finance Natural Gas Price Forecast – Natural Gas Markets Continue to Find Support
Natural gas markets have gone back and forth during the trading session on Monday, dancing around the 50 day EMA again. By doing so, it suggests that we have a significant amount of support underneath, and that could be a good thing eventually, as the natural gas markets look likely to attempt to try to form some type of longer-term bottom here. The $1.50 level is still crucial, so that something worth paying attention to. The $1.50 level has seen a couple of attempts to break down through it but has held firm, and when you look at the longer-term continuous contract charts, you can see that 1.50$ has been important.
NATGAS Video 14.07.20
The 50 day EMA does tend to attract a lot of attention, so that certainly something to pay attention to. The market will of course continue to see a lot of noise, but with the temperatures in the United States rising in the fact that we are starting to see more bankruptcies in the natural gas sector, one has to believe that eventually the supply will start to dwindle. If it does, then it is likely that we get an opportunity to see a push towards the $2.00 level which also features the 200 day EMA, something that has not been lost on me. I like the idea of buying here but recognize that you need to be small with your trading position as there is so much in the way of shakiness out there. If we were to break down below the last couple of days, then I would look to buy again somewhere closer towards the $1.70 level.
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This article was originally posted on FX Empire
