Category: Forex News

Natural Gas Weekly Price Forecast – Natural Gas Continues to Attempt a Recovery

Natural Gas Weekly Technical Analysis

Natural gas has a positive week for the second week in a row, as it looks as if natural gas is starting to respect this area around the $1.50 level as we have risen 30 cents since then. That being said, this is a market that has a long way to go before it could be considered bullish. But it is worth watching for longer term swing traders as this could be an excellent opportunity to invest, not trade, but invest. The $2 level above will be crucial, and I think it’ll be very difficult to break above, but if we were to do so, then I think we’d probably jump quite significantly as I think there would be a certain amount of short covering on a move like that.

The main catalyst for that would probably be a winter storm, but longer term, you have to start thinking about air conditioning and of course, just the simple fact that producers won’t be producing if they’re losing money. And right now, they can’t be making much. So, with that being said, $2 is crucial. But if you have a long enough time horizon, this is a pretty strong investment. However, it should be just the portion of your portfolio, and not necessarily something that you have a huge position in. Quite frankly, natural gas is a very tough market to trade in most of the time.

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