Natural Gas and Oil Forecast: Will OPEC+ Cuts and Demand Shifts Drive Prices?
Natural Gas (NG) prices surged to $4.617, breaking through a key resistance zone at $4.484. This breakout signals renewed bullish momentum, but the next major resistance at $4.703 will be the key test for sustained upside. If buyers maintain control and push beyond this level, we could see an extension toward $4.900 in the near term.
On the support side, the 50-day EMA at $4.206 now acts as a strong base, while the 200-day EMA at $3.778 remains a long-term support zone. A pullback toward $4.484 would be a healthy retest, but if this level fails, natural gas prices could revisit $4.132 and even $3.873.
The bullish breakout is encouraging, but gas prices need to hold above $4.484 to confirm sustained momentum. If sellers step in, a reversal toward support levels is likely, making $4.484 a crucial pivot point for near-term price action.