Yahoo Finance Natural Gas Price Forecast – Natural Gas Markets Continue to Grind
Natural gas markets have gone back and forth during the trading session on Tuesday, as traders came back to work in full force. The natural gas markets continue to be very noisy, but the candlestick for the day is bullish. The 50 day EMA looks to be incredibly supportive, and therefore it would not surprise me at all to see a continuation towards the $2.00 level. Etiquette this point it is likely that we will see buyers on dips, as natural gas has been oversold for far too long. Ultimately, I believe that we are trying to get towards the 200 day EMA which is closer to the $2.10 level.
NATGAS Video 27.05.20
If we break down below the lows of the last couple of days, it is likely that we will try to fill that gap again, and at that point I would be more than willing to start buying again. I like the idea of going long natural gas, but I also recognize that you cannot hang on to major positions for long timeframe type of set ups, because quite frankly there is still going to be a major problem with demand. At this point, I believe that the market continues to see a lot of volatility and offers plenty of short-term trading opportunities on these dips. I would not put a lot of money into this market though, because quite frankly it is a market that is still trying to figure itself out. Bankruptcies coming in the United States seems to be one of the main drivers of this market to the upside.
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This article was originally posted on FX Empire