Natural Gas Price Forecast: Reversal Targets $2.99 Resistance
By Bruce Powers | Published: Jul 30, 2026
Overview
Natural gas prices are showing signs of a potential reversal after finding support at $2.64. The recent price action indicates a bullish response following a corrective low, with a rally to $2.78 marking a new higher daily high and higher low.
Reversal Signal
On Thursday, natural gas triggered a reversal signal on the daily chart. A close above Tuesday’s high of $2.76 would confirm an upside breakout, indicating bullish follow-through after the recent low. This price action reflects a strong response to a failed breakdown, suggesting the potential for trend continuation.
Resistance Levels
If the upward momentum continues, the first target is the swing low at $2.86, with further resistance extending to the recent swing high of $2.99. Several indicators confirm this resistance zone, making it a critical area for determining the strength of the current rebound.
Moving Averages
The 20-day moving average is currently at $2.94, serving as initial dynamic resistance. A reclaim of this level could open the door for higher targets. The 100-day moving average near $2.96 is also significant, as it has previously acted as resistance. The area between $2.94 and $2.96 will be crucial in determining whether the current rebound can challenge the $2.99 resistance level.
Support Levels
Key short-term support is identified at Thursday’s low of $2.68, followed by $2.67 from Wednesday. The next significant support level is near the 88.6% Fibonacci retracement at $2.60. If this support fails, the trend low near $2.50 could become a target, indicating a potential continuation of the bearish trend. For now, the $2.68-$2.67 support zone is critical for maintaining the bullish case.