Natural Gas and Oil Forecast: U.S. Policy on Venezuelan Oil Shakes Markets
Natural Gas (NG) is trading at $3.94, down 0.38%, showing some hesitation as it hovers around the 50-day Exponential Moving Average (EMA). The immediate support sits at $3.75, with a deeper cushion at $3.55. If prices break below $3.75, we could see a sharper sell-off, possibly testing the next support level.
On the upside, resistance is at $4.09, with a stronger barrier at $4.23. A break above $3.98, which is the pivot point, could trigger buying momentum, pushing prices toward the resistance levels.
Keep an eye on the 200 EMA at $3.56—if prices dip below this, the bearish trend could accelerate. For now, the outlook remains bullish above $3.98, but caution is warranted.