Natural Gas and Oil Forecast: Will Rebound Hold or Fake Out Below Resistance?
Natural gas futures are holding steady at $3.62 on the 2-hour chart after a strong rebound from below $3.00 in late April. Price action is currently respecting a well-defined ascending trendline, and buyers have stepped in just above the $3.56 support zone.
The 50-period EMA, now at $3.52, is sloping upward and offering dynamic support, reinforcing the bullish structure that’s been building over the past week.
A move above the $3.72 resistance would be key to unlocking the next leg higher toward $3.86 and potentially $4.01. Momentum appears healthy, and if the uptrend holds, bulls may continue pressing their advantage.
But if price slips below the trendline and the 50 EMA, it could open the door for a correction back toward $3.40. For now, the path of least resistance remains to the upside, with the trendline acting as a clear line in the sand for short-term positioning.