Natural Gas Price Forecast: Key Insights
Author: Bruce Powers
Published: June 09, 2026
Market Overview
Natural gas prices are currently experiencing a phase of consolidation, trapped between established resistance and support levels. Traders are closely monitoring these levels as a decisive move is anticipated, with increasing bearish reversal risks being assessed.
Resistance and Support Levels
Natural gas has tested resistance near the 10-day moving average for two consecutive days, establishing a higher daily low of $3.12 and a higher high of $3.21. This has confirmed resistance near the average, followed by an intraday pullback. Key support levels include:
- The neckline of a potential double top pattern at $3.10.
- The 100-day moving average at $3.15.
- The rising 20-day moving average near $3.09, which is expected to cross above the $3.10 zone, reinforcing the support area.
Potential Patterns
The market is currently at a crossroads, with the potential for either a double top formation or continued consolidation. A decisive move above Tuesday’s high could reclaim the 10-day average near $3.22, extending the consolidation phase. However, if support at the 20-day average fails, it could trigger a bearish reversal.
Downside Risks
If the 20-day average fails to hold as support, a deeper pullback could occur, targeting the 50-day moving average near $2.87, with the higher swing low from May at $2.86 also being a potential downside target.
Conclusion
The retention of support near the 100-day moving average indicates underlying buying pressure, which could lead to another leg up in the current uptrend or an extended period of consolidation. However, the recent rally has reached significant targets, suggesting that it may have peaked. With resistance and support levels clearly defined, natural gas is poised for a decisive move, with a bearish reversal favored if support fails.
Author's Background
Bruce Powers has over 20 years of experience in financial markets and is a seasoned finance MBA and CMT® charter holder. He has worked as head of trading strategy at hedge funds and as a corporate advisor for trading firms, providing actionable insights through technical and fundamental analyses.