The daily chart is a natural gas futures targeting a $ 3.330 minor bottom and emphasizes the bearish momentum. The next important level of interest is an important technical marker with a 50 -day moving average of $ 3.275. There is a possibility that a potential bounce may occur at this level, but if you do not hold it, the sales pressure will be further caused, and the price may promote $ 3.038 toward the 200 -day moving average. This important support shows a long -term shift to a long -term downtrend if it is infringed, and raises the interests of traders who are carefully looking at these levels.
The weather forecast weighs the on -demand outlook
The weather of this week is still headwind. Natgasweather reports that chilly systems bring snow and freezing temperature to the midwest and northeast, but most of the United States will experience a calm state in the 1940s and 1970s. More calm weather systems have tracked the southern United States, further increasing their demand. Looking ahead, a cold system may collide with the northwestern part of the Pacific Ocean and Mountain West by the weekend, but the overall demand is expected to remain moderate in the week.
Market forecast: More negative aspects
The combination of weakening of technical indicators and soft demand forecast suggests a bearish short -term outlook on natural gas prices. If the contract in February fails to exceed $ 3.275, the possibility of sliding further toward the $ 3.038 will increase significantly. The calm weather expectations in February can be pressure on the price, even if the heating demand decreases in the rapid migration of the moon, so the risk of negative aspects is amplified.
Traders need to monitor technical level and weather -led demand forecasts because they can set a wider market tone in the following sessions:
Details of economic calendar.
