Natural Gas Price Forecast: Breakdown Extends Bearish Structure

Author: Bruce Powers

Published: April 23, 2026

Overview

The article discusses the recent bearish momentum in natural gas prices, highlighting a breakdown from a flag pattern that has led to a new interim trend low of $2.71. This decline is significant as it tests key support zones, indicating a potential continuation of the bearish trend.

Key Points

• Bearish Breakdown: Natural gas prices have broken lower, reaching a new low and testing support near an uptrend line from a previous swing low of $2.58. A daily close below $2.72 would confirm the bearish trend extension.
• Failed Bullish Reversal: The recent price action has established a bearish outside week, indicating a failed bullish reversal attempt earlier in the week. This failure suggests that further downside movement is likely.
• Support Zones Under Pressure: The article identifies a significant support zone that includes previous swing lows and Fibonacci retracement levels. A decisive decline below $2.74 would confirm a break of this support zone.
• Weak Bounces: The article notes that recent price bounces have been weak, reinforcing the dominance of selling pressure. This indicates that buyers are not aggressively pushing prices higher, leading to continued downward momentum.
• Lower Price Targets: If the bearish trend continues, the next support level is at $2.58, but it is anticipated to fail. Further targets include the 78.6% Fibonacci retracement level near $2.31, and a larger support zone around $2.15 to $1.99.

Conclusion

The article concludes that the current bearish structure in natural gas prices is likely to persist, with several key support levels under threat. Traders are advised to monitor these levels closely for potential trading opportunities.

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.