Natural Gas Price Forecast: Can Buyers Trigger a New Rally?
By Bruce Powers | Updated: Sep 10, 2026
Market Overview
Natural gas prices have recently rebounded from a support level of $2.75, forming a potential bullish hammer candlestick pattern. This recovery suggests that buyers are stepping in to regain control of the market, with current trading around $2.84.
Technical Analysis
Current Price Action
After falling below a rising trendline and the 20-day moving average, natural gas prices hit a low of $2.75. However, buyers quickly responded, pushing prices higher. The recent high of $2.84 tested resistance at the 20-day moving average, indicating potential bullish momentum.
Breakout Potential
A decisive breakout above Thursday's high could signal a one-day reversal, reclaiming the 20-day moving average and confirming market strength. A daily close above this high would suggest a continuation of the upward trend, with targets set at $3.03 and $3.09, followed by the 200-day moving average near $3.26.
Key Support and Resistance Levels
Support Levels
The key short-term support level is now established at $2.75. A sustained decline below this level could jeopardize the potential for an upside recovery. Conversely, if buyers maintain control, this could mark a higher swing low in the developing advance.
Upside Targets
If the support holds, the first upside target is $3.03, followed by the 61.8% Fibonacci retracement level at $3.09. The ultimate target is the falling 200-day moving average at $3.26, which may decline further if not tested soon.
Conclusion
The natural gas market is at a critical juncture, with buyers defending key support levels. A breakout above recent highs could lead to a significant rally, while failure to hold support may risk a downturn. Traders should monitor these levels closely for potential trading opportunities.