Natural Gas Price Forecast: Bullish Continuation Fails
Author: Bruce Powers
Published: March 09, 2026
Market Overview
Natural gas prices initially showed strength by breaking above short-term highs, but sellers quickly regained control, indicating potential downward pressure in the near term. The article discusses the recent price movements and technical indicators affecting natural gas futures.
Key Price Movements
- Natural gas confirmed strength earlier in the session by breaking above the previous week's high of $3.28.
- A four-week high of $3.32 was surpassed, but resistance was encountered at $3.49, which is just below the 200-day moving average at $3.56.
- After reaching the day's high, sellers took control, leading to a bearish response.
Support and Resistance Levels
The article highlights key support and resistance levels:
- Key support is identified at the recent swing low of $2.89.
- Short-term support is at Monday's low of $3.04, with additional support at $2.95.
- The 20-day moving average is currently at $3.04, which is crucial for determining the market's direction.
Market Sentiment and Technical Analysis
Despite an initial bullish trend reversal signal triggered on Friday, the lack of confirmation with a close above the previous high indicates ongoing downward pressure. The article notes that the recent high was significant as it coincided with the 200-day moving average, reinforcing its role as a trend indicator.
Conclusion
The natural gas market is currently facing challenges as it consolidates below a long-term uptrend line, which has become a significant resistance level. The article emphasizes the importance of monitoring these technical indicators and support levels to gauge future price movements in the natural gas market.
About the Author
Bruce Powers is a seasoned finance professional with over 20 years of experience in financial markets. He holds an MBA and is a CMT® charter holder, having worked as head of trading strategy at hedge funds and as a corporate advisor for trading firms.