Natural Gas Weekly Forecast, Sept. 21 - 25

Forecast for the Upcoming Week

  • Uptrend scenario: An uptrend will start as soon as the market rises above resistance level 2.160, which will be followed by moving up to resistance level 2.480 and 2.700.
  • Downtrend scenario: The downtrend may be expected to continue in case the market drops below support level 1.910, which will be followed by reaching support level 1.640.

Chart Natural gas This/Next Week Forecast, Technical Analysis

Natural gas forecast chart for the previous week

Chart Natural gas This/Next Week Forecast, Technical Analysis

Fundamental Analysis

The difference between supply and demand presents an oversold market and price at the $2.7 level. Before November, demand is temporarily embraced, which pushed the price down. Yet after the first few cold weeks, the market will go up back to the target level of $2.7.

Natural Gas Fundamental Analysis, Ending Stocks, Inventory Chart

Long-Term Forecast (Quarter III: July - September, 2020)

  • Uptrend scenario: The uptrend may be expected to continue while the market is trading above the support level 2.160, which will be followed by reaching resistance level 2.700.
  • Downtrend scenario: A downtrend will start as soon as the market drops below support level 2.160, which will be followed by moving down to support level 1.640.

Chart Natural gas Forecast 2020, Long-term Outlook, Technical Analysis

Disclaimer: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.