Natural Gas Price Forecast – Natural Gas Markets Test 50 Day EMA

Natural gas markets showed to be quite resilient during the trading session as we initially opened a wider gap, pulled back to test the previous downtrend line of the uptrend, then bounced back. At the moment it looks like the market is just below the 50 day EMA, which will of course attract a lot of attention. That said, if we were to move above the 50 day EMA then I think natural gas will continue its bullish move.

NATGAS video 25.11.21

Temperatures in the Northeastern United States continue to drop, so that’s driving up the demand for natural gas, and if we get some kind of big cold snap, it could really kick things up a notch. That said, we had already hit extreme highs in the past few months that we haven’t seen in the past few months, so whether or not we have a lot of momentum will most likely be a very different and open question. If we break above the 50-day EMA, I expect the $5.50 level will likely become a target.

On the other hand, if we go below the bottom of the candlestick before Wednesday’s trading session, I think it’s very likely that we’ll be looking at the $4.75 level, which is essentially the bottom of this wedge on which I have drawn the chart. At this point, however, I would like to point out that Thursday is Thanksgiving in the United States, so it will basically be algorithm trading all day.

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

Leave a Comment