Natural Gas and Oil Forecast: Energy Traders Eye $65.65 for Brent Bull Revival
Natural gas futures are trading around $3.35, just below the 50-EMA ($3.353) and 200-EMA ($3.452), both now acting as dynamic resistance. Price recently retraced from the $3.72 swing high and found temporary support at the 38.2% Fibonacci level ($3.338), which now serves as the immediate pivot zone.
While this level is holding for now, price action remains heavy beneath the 61.8% Fib retracement ($3.486), suggesting that the recent bounce may be stalling. Unless bulls can reclaim $3.41 (50% retracement) with conviction, the risk of a drop back toward $3.25 or even $3.16 increases.
Structurally, the chart shows lower highs forming since mid-May, which hints at weakening demand. For now, the trend is sideways to slightly bearish, and buyers will need a strong close above $3.41 to revive upside momentum.