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Natural Gas Price Forecast – Natural Gas Markets Have a Rough Friday Session Again

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Natural Gas Technical Analysis

Natural gas markets initially tried to rally on Friday but gave back gains as the 50 Day EMA has offered resistance. The market has been negative during the Friday session, and it looks as if the $7.00 level is going to offer a certain amount of support from a psychological and structural standpoint. If we do break down below the $7.00 level, then the market is likely to go looking to reach the $6.00 level underneath, which the 200 day EMA is currently trying to overcome.

If you have been watching these videos for the last several days, you know that I mentioned that the massive candlestick on Tuesday is the type of candlestick that rarely happens in a vacuum, therefore it’s likely that we will see more downward pressure. Ultimately, it’s not until we break above the $8.00 level that you have to look at this as a market that should show strength. Ultimately, I think we are in the midst of a major shakeup, and it is worth noting that the volatility had been getting strong over the last several weeks, so it’s not a huge surprise to see that we had broken down.

Whether or not we are going to melt down is a completely different question, so that being said I think that short-term traders will continue to short this market. If we break down below the $7.00 level, then I anticipate that pressure will pick up, and we will start to see a lot of momentum flow into this market to the downside. After all, this has been an extraordinarily crowded trade for some time.

Natural Gas Price Forecast Video 20.06.22

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This article was originally posted on FX Empire

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