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Technical Support Buckles Under Three-Day Slide of Natural Gas Futures

Natural Gas Intelligence · last updated

May natural gas futures plunged through a key technical support range on Monday as tariff wars and narrowing storage deficits continued to weigh on market sentiment.

Chart depicting the daily Henry Hub natural gas prices with trends and analytics from the NGI Natural Gas Index, showcasing pricing data and energy market trends in the US.

The prompt month settled at $3.325/MMBtu, down 20.2 cents from Friday’s settlement. This was below the two-month low recorded on April 9 of $3.336, a support level identified early Monday by Mizuho Securities USA’s Robert Yawger, director of energy futures.

NGI’s Patrick Rau, senior vice president of research and analysis, said Monday morning that, “Should May move lower, it first faces technical support in the $3.40-3.44 range, marked by the down trend-line and the bottom of May’s 20-day Bollinger Band. From there, May has major support at its 200-day moving average of $3.21 and the chart gap at $3.22.”

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