Natural Gas weekly forecast August 17 - 21

Anton Kolhanov Anton Kolhanov

Natural Gas Weekly (August 17 - 21, 2020)

Uptrend
The uptrend may be expected to continue, while market is trading above support level 2.160, which will be followed by reaching resistance level 2.700.
Downtrend
An downtrend will start as soon, as the pair drops below support level 2.160, which will be followed by moving down to support level 1.880 and if it keeps on moving down below that level, we may expect the market to reach support level 1.640.

previous week natural gas forecast chart

Natural Gas Weekly Weather Forecast

This week weather can be colder then average, that decrease summer gas consumption and create downtrend price pressure.

New-York, August 2020

Natural Gas Long-Term (Quarter III: July - September, 2020)

Uptrend
The uptrend may be expected to continue, while market is trading above support level 2.160, which will be followed by reaching resistance level 2.700.
Downtrend
An downtrend will start as soon, as the market drops below support level 2.160, which will be followed by moving down to support level 1.640.

Natural Gas Fundamental Analysis

Difference between supply and demand shows oversold market and the fair price at the level $2,7.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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