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The market remains technically supported, but there are signs of wavering momentum. A key pivot sits at $3.505—if prices break below this level, downside momentum could accelerate. Friday’s high of $3.801 now stands as a potential lower top, which could reinforce a bearish structure if selling pressure increases.
On the upside, a trade through $3.801 would indicate renewed strength. If enough buying emerges, the next upside target sits at $4.020. The 50-day moving average at $3.193 supports the intermediate-term bullish trend, while the 200-day moving average at $2.739 continues to guide the longer-term outlook.
Market Forecast: Short-Term Uncertainty, Longer-Term Bullish Bias
In the short term, natural gas futures are showing a mixed picture, with near-term resistance and profit-taking weighing on prices. However, the intermediate and long-term outlooks remain supportive, as technical levels continue to favor the bulls. Traders will be closely watching updated weather models and early March forecasts for the next major move. A break below $3.505 could spark further downside, while a move above $3.801 would signal renewed upside potential.
More Information in our Economic Calendar.
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