Natural Gas Price Forecast – July 21, 2021

Natural Gas Technical Analysis and Near-Term Outlook

Natural gas rose as called for in yesterday’s update and easily pushed through the crucial $3.91 objective as suspected. Closing above $3.91 positions natural gas to challenge $4.00 and possibly higher during the next few days.

With that said, the move up became somewhat hesitant after overcoming $3.91. The move up is also due for a pullback because the larger than (1.618) target of the wave up from $3.52 held. Therefore, a test of $3.87 might take place before rising to challenge $4.00. For now, $3.87 is expected to hold and $3.80 is key support for the near-term outlook. Settling below $3.80 would shift near-term odds in favor of $3.74 and possibly $3.69.

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.

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.