Daily Natural GasThe market’s failure to reclaim $3.733 on Monday signaled waning buying interest, exposing the June contract to downside risk. Should bearish momentum persist, traders are eyeing a potential retreat toward the minor pivot at $3.438. A break above $3.900 would be needed to confirm renewed upside strength, opening the path to test $4.062
Is Technical Pressure Signaling a Deeper Pullback? The daily chart suggests ample room for additional downside movement, with the next significant support level marked at $2.199. Immediate resistance is seen at the 61.8% short-term retracement level of $2.995. A break above this could spark short-covering activity, but upside momentum would likely stall near the 50%
Daily Natural GasCurrent price action shows natural gas testing major support at $3.924. If this level holds, the market could target minor resistance at $4.094, followed by $4.253. The critical trigger point for a decisive upside breakout sits at $4.317. Conversely, a breakdown below current support could accelerate selling pressure toward $3.732, with further downside
Production Holds Steady Despite Falling Rig Counts Despite a drop in the U.S. natural gas rig count—down seven last week to just 96—output remains strong. Lower-48 dry gas production averaged 106.4 Bcf/d on Friday, up over 4% from a year ago. This persistent output is meeting softening demand head-on. Industrial and residential usage remains subdued,
At 17:27 GMT, Natural Gas Futures are trading $3.767, up $0.139 or +3.83%. Cold Weather Forecasts Drive Demand Expectations Natural gas futures have risen consistently this week, with the March contract gaining nearly 32.0 cents over the past four sessions. The primary driver behind this rally has been colder-than-expected weather forecasts. The latest 15-day U.S.