Natural Gas Price Forecast – July 14, 2021

Natural Gas Technical Analysis and Near-Term Outlook

Natural gas continues to trade in an erratic range bound between approximately $3.60 and $3.81. Monday’s rise to $3.769 looks as though it was a shortfall (a failure to test the range’s upper trend line) within the range. The waves down from $3.822 and $3.769 are poised to test $3.59. This is the smaller than (0.618) target of the primary wave down from $3.822. Closing below $3.59 would confirm a break lower out of the range and clear the way for $3.54 and likely $3.48 in the coming days.

Nevertheless, prices have risen this afternoon and a test of $3.71 might take place first. This level is expected to hold. Overcoming $3.71 will call for $3.77 and possibly $3.82. Settling above $3.82 would confirm a break higher and shift odds in favor of challenging another highly confluent and major threshold at $3.91.

Natural Gas - $0.035 Kase Bar Chart
Natural Gas – $0.035 Kase Bar Chart

This is a brief analysis for the next day or so. Our weekly Natural Gas Commentary and daily updates are much more detailed and thorough energy price forecasts that cover key natural gas futures contracts, calendar spreads, the UNG ETF, and several electricity contracts. If you are interested in learning more, please sign up for a complimentary four-week trial.

Published by

Dean Rogers, CMT

Dean Rogers, CMT is the general manager of the Kase Call Center in Albuquerque, New Mexico. He oversees all of Kase and Company, Inc.’s operations including research and development, marketing, and client support. Dean began his career with Kase in early 2001 as a programmer but has developed into Kase’s senior technical analyst. He writes Kase’s award-winning weekly Crude Oil, Natural Gas, and Metals Commentaries. He is an instructor at Kase's classes and webinars and provides all of the necessary training and support for Kase's hedging models and trading indicators for both retail and institutional traders.

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