Natural Gas Price Forecast – Falling Prices in Hot Weather – .

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Natural Gas Price Forecast – Falling Prices in Hot Weather – .


Technical analysis

On Monday, natural gas prices fell 7% and are poised to test target support near the 50-day moving average at 4.86. Resistance is seen near the 10 day moving average at 5.57. Prices are oversold as the Fast Stochastic prints a reading of 2, below the oversold trigger level of 20, foreshadowing a correction. Medium-term momentum is negative as the MACD (Moving Average Convergence Divergence) histogram prints in negative territory with a downward sloping path that indicates lower prices.

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