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Natural Gas Price Prediction - Prices Continue to Trend Lower


4 hours ago (Apr 06, 2021 09:29 PM GMT)
Natural gas prices dropped nearly another 2% on Tuesday after falling 5% on Monday. The move comes as warmer than normal weather is expected to cover most of the United States for the next 6-10 and 8-14 days according to the National Oceanic Atmospheric Administration. U.S. demand declines again week over week due to mild temperatures. The combination of warm weather and larger-than-expected injections is weighing on prices.
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Technical Analysis
Natural gas prices dropped on Tuesday falling more than 2% after declining rapidly on Monday and pushing through support which is now resistance near the 10-day moving average at 2.57 which is now seen as resistance. Target support is seen near the March lows at 2.42. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) ....

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