Natural Gas Price Forecast – Natural Gas Shoots

natural gas and although lately it has fallen a little I believe that it has not been enough. In general, I think that at this time it is likely that the market will continue to rise and could reach the level of $ 2.40 that serves as a reference for being a round, important and psychologically significant figure. In the long term I anticipate that we are going to go higher as now it seems that the level at $ 2.00 has become the “bottom” of the market and then it is clear that we have another support at the level of $ 2.10. “Data-reactid = “12”> I have been waiting for a long time for a correction in natural gas and although lately it has fallen a little, I think it has not been enough. In general, I think that at the moment it is likely that the market will continue to rise and could reach the level in $ 2.40 which serves as a reference for being a round, important and psychologically significant figure. In the long term I anticipate that we are going to go upwards since now it seems that the $ 2.00 level has become the “bottom” of the market and then it is clear that we have another support at the $ 2.10 level.

NATGAS Video 17.08.20

On the downside, a hypothetical break below the $ 2.00 level would simultaneously break through the 200-day EMA and would be a very negative sign. However, between the failure of producers and the devaluation of the dollar, natural gas has received a certain amount of upward pressure. You also have to think that we are operating with the futures contracts of the cold months since the closest contract is September and before you want to know it we will be with the winter months contracts.

I like to buy after crashes and I will continue like this from here on. In the medium term, I think the target could be at the $ 2.50 level, but it will surely take a long time to go up there. After all, this market looks a lot like the EUR / USD currency pair because it is in the midst of a main trend reversal, and these kinds of processes are usually carried out with a lot of noise in between, to put it mildly.

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article was originally posted on FX Empire “data-reactid =” 18 “> This article was originally posted on FX Empire

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