The natural gas markets have proven to be quite resilient during the trading session as we initially went higher, retreated to test the previous downward line of the rise and then jumped again. At the moment, it seems that the market is just below the 50 day EMA, which of course will attract some attention. That said, if we were to break above the 50 day EMA, then I think natural gas will continue its bullish move.
NATGAS Video 25.11.21
Temperatures in the northeastern United States continue to plunge, so it’s increasing demand for natural gas, and if we get a kind of greater cold, it can really get things started. That said, we had already reached extreme heights that we have not seen in several years over the last few months, so whether we have a lot of momentum to the upside or not will more than likely be a whole different and open question. If we break over the 50 day EMA, then I expect the $ 5.50 level is likely to end up being a target.
On the other hand, if we break down below the candlestick for the trading session on Wednesday, then I think it’s very likely that we’re heading towards the $ 4.75 level, which is essentially the bottom of this wedge, which I have pulled on. the diagram. At this point, though, I want to point out that Thursday is Thanksgiving in the US, so it will basically be algorithm trading all day.
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