Ryan_Gorman

Natural Gas Selling Off

MOEX:NG1!   Natural Gas Futures
Natural gas has been extremely volatile this year and has recently broken below major trendline support and continued selling off. Even with the volatility we have seen, with sharp moves higher followed by sharp moves lower, the market is still up almost $2 on the year, and we are looking to test a strong support level from the July lows. This market is the most oversold we have seen since before the pandemic, and the market has responded very positively this year off oversold levels. If the market can hold support at the July lows, we could see a nice bounce higher and look to test the 50-day moving average, which is now strong resistance.

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