SniperFx

Archives

  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Analysis
  • Bonds
  • Crypto
  • Forex
  • Forex Trading
  • Ideas
  • Investing
  • News
  • Stocks
  • World
Subscribe
SniperFx
SniperFx
  • Bonds
  • Crypto
  • Forex
    • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • World

Natural Gas Forecast Continues to See Downward Pressures

  • admin
  • April 29, 2023

The natural gas market is influenced by several factors, such as supply and demand, weather patterns, geopolitical tensions, and global economic conditions. 

  • The natural gas markets have been slightly lower during Thursday’s trading session, with prices continuing to approach the $2.00 level.
  • The market will continue to struggle with demand, especially with the onset of warmer weather in the northern hemisphere.
  • The northern hemisphere is the biggest area of demand, and if the market is going to be influenced by a lack of cold weather, prices will drop.
  • Typically, this time of year, we see a little bit of negativity and a range in general, setting up between the $2.00 level on the bottom and the $3.00 level on the top.

The 50-Day EMA is situated just above the $2.55 area and is dropping, indicating that we could see technical resistance in that area. Even if we break above that level, the $3.00 level will continue to offer a lot of psychological resistance, an area where we have seen a lot of selling pressure previously. Ultimately, the market will continue to see a lot of back-and-forths, making it challenging to get overly bullish on natural gas anytime soon. We may see some type of spike due to a heat wave, but the market remains in a “fade the rally” type of situation.

Rallies Will Continue to be Faded

One significant problem with natural gas now is the global demand drop from an industrial standpoint, as we are heading into a global recession, leading to dollar pressure. This means that there is no interest in buying natural gas anytime soon, although it could eventually go higher later this year if Europeans must refill their tanks. However, this is probably a couple of months away, so there is no urgency, and rallies will continue to be faded.

The natural gas market is influenced by several factors, such as supply and demand, weather patterns, geopolitical tensions, and global economic conditions. As a result, it is essential to monitor these factors to make sure you aren’t blindsided.

In conclusion, the natural gas markets have been drifting slightly lower during the Thursday trading session, reaching the $2.00 level. The market will continue to struggle with demand, especially as we are heading into warmer months. The 50-Day EMA is just above the $2.55 area and is dropping, indicating technical resistance. Even if we break above that level, the $3.00 level will continue to offer psychological resistance. The global demand drop and dollar pressure mean that there is no interest in buying natural gas anytime soon. Investors must monitor several factors to make informed decisions regarding natural gas investments.

admin

Previous Article

United States Labor costs complicate the tide back to 2% inflation

  • admin
  • April 29, 2023
View Post
Next Article

Hong Kong regulator requires banks to open accounts for crypto firms

  • admin
  • April 29, 2023
View Post
You May Also Like
View Post
  • Bonds

AUDUSD slides back closer to monthly low, bears now await break below 0.6600

  • admin
  • May 23, 2023
View Post
  • Bonds

AUD/USD clings to gains above mid-0.6600s as traders keenly await Powell’s speech

  • admin
  • May 21, 2023
View Post
  • Bonds

Bonds Say Run, Stocks Say Don’t

  • admin
  • May 8, 2023
View Post
  • Bonds

Ecuador frees cash for Galapagos conservation with $1.6 billion bond buyback

  • admin
  • May 6, 2023
View Post
  • Bonds

Stocks Vs. Bonds Which Is The Better Investment

  • admin
  • May 3, 2023
View Post
  • Bonds

Asian bonds to lure more investors amid rate cut buzz

  • admin
  • May 1, 2023
View Post
  • Bonds

MATIC’s Price Is Currently Resting on a Key Support Level

  • admin
  • April 20, 2023
View Post
  • Bonds

Euro makes steady losses, 1.1000 remains out of reach

  • admin
  • April 19, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories
  • Analysis (33)
  • Bonds (70)
  • Crypto (90)
  • Forex (106)
  • Forex Trading (64)
  • Ideas (57)
  • Investing (61)
  • News (121)
  • Stocks (113)
  • World (200)
Recent Posts
  • ISS backs Toyota shareholder proposal on climate disclosure
  • Gold Prices at Risk of Deeper Correction on Surging Real Yields, USD Strength
  • US Dollar Weekly Outlook Will US Debt Ceiling Deal and Jobs Report Boost DXY Further
  • BTC’s Network Activity Has Started Recovering From Its May Lows
  • USDCHF double three Elliott Wave advance and next blue box area
SniperFx
  • Home
  • About Us
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
Forex & Crypto Updates

Input your search keywords and press Enter.