Category: Forex News, News

Natural Gas Price Forecast – Natural Gas Continues to Look Sick

I do think natural gas rallies, and I think it rallies quite nicely, but we need to find the bottom first, and therefore you have to be willing to sit and ride out the negativity which will end whenever it ends. We just don’t know. We are hanging around the $2.25 level. That’s an area that some people will pay attention to.

And I do recognize that above the $2.50 level is a significant barrier. If we can break that, then we really will start to take off to the upside in my estimation. But we are just as likely to drop down to $2.15 before seeing that. So, I’m waiting for a bounce and some type of follow through. I already have a position through an ETF that is a little bit better than breakeven at the moment, and I did collect some profit several weeks ago, but at this point in time I am looking to reload that position.

I haven’t seen the market do enough for me to get involved yet, but it is something that I’ll be buying and probably more likely than not selling sometime in fall or maybe even early winter. Once the high season for heating comes back to play.

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


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