Natural Gas Price Forecast: Gas Hits $3.49 as Buyers Test 200-Day Resistance

Strong Advance Reaches Next Target

Natural gas extended its rally on Wednesday, climbing to a session high of $3.49. That move completed the next upside target zone defined by multiple technical factors, including the 200-Day moving average, the 127.2% projection of a rising ABCD pattern, and a long-term downtrend line. This confluence made $3.49 an important test for the market, as the 200-Day average is being challenged for the first time since prices fell through it in late July. At the time of writing, buyers remain in charge, with natural gas holding in the top quarter of its daily trading range, a sign of sustained momentum.

Resistance Aligns at Critical Level

When several technical indicators converge, the resulting price area often represents a strong pivot point. Wednesday’s advance directly into this resistance cluster increases the chance of hesitation or rejection, even as bullish forces remain dominant. The 200-Day line often acts as a key battleground between buyers and sellers, and the initial test typically produces a pullback before any sustained breakout attempt.

Weekly Candles Signal Underlying Demand

Longer-term signals continue to favor the bulls. The wide-range bullish engulfing candle that formed in August established the most recent swing low and closed at a three-week high, suggesting improving demand. This was followed last week by another wide-range bullish candle that engulfed the prior three sessions and closed at the highest weekly level in ten weeks. These recurring bullish weekly structures confirm that the demand perceived in the trend remains active and could carry prices higher once near-term resistance is resolved.

Outlook and Key Support Zones

Upside continuation is possible if buyers can push through the $3.49 zone. The next levels of interest are the $3.63 swing high, followed by the more significant $4.15 peak from June. However, the market is becoming extended, and a rest or pullback would likely strengthen the structure of the trend. Support begins at the $3.25 level and extends into the $3.12 gap area. Further support sits at the confluence of the 20-Day and 50-Day moving averages near $3.05–$2.99. A retest of these areas will reinforce demand if buyers step back in.

Trader Takeaway

Natural gas remains in a bullish phase, but Wednesday’s rally has carried prices into a resistance cluster where consolidation is possible. Traders should watch for a retest of support before the next breakout attempt.

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