Natural Gas Price Forecast: Is Another Breakout Attempt Coming?
Author: Bruce Powers
Published: June 22, 2026
Overview
The article discusses the current state of natural gas prices, highlighting a recent failed breakout attempt above a key trendline resistance. The price remains within a broader range defined by significant moving averages, indicating ongoing consolidation in the market.
Key Points
- Failed Breakout: Natural gas prices reached a 10-day high of $3.38 but failed to maintain momentum, closing below the trendline resistance.
- Resistance Levels: Key resistance is identified between $3.41 and $3.42, with the 100-day moving average at $3.39 acting as a significant barrier.
- Support Levels: The 50-day and 20-week moving averages, both around $3.06, define a crucial support zone for natural gas prices.
- Market Structure: The article notes a short-term bullish trend characterized by higher swing lows and higher swing highs, despite the recent price action.
Broader Market Patterns
The broader market pattern suggests an ascending broadening formation, indicating that consolidation may persist as the market develops. This pattern reflects the potential for both upward and downward price movements in the near term.
Future Scenarios
On the upside, there is a possibility of a quick overshoot above the 200-day moving average, potentially testing resistance near $3.49. However, the expectation remains that natural gas may eventually face resistance and decline towards the April lows. A daily close above the 200-day moving average or the April swing high could signal a trend reversal.
Conclusion
The article provides a comprehensive analysis of the current natural gas market, emphasizing the importance of key technical levels and the potential for future price movements. Traders are advised to monitor these levels closely as they could indicate significant shifts in market sentiment.
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.