Natural Gas Price Forecast: Strengthens Above Uptrend Line, as First Target Reached

Natural Gas Rally Extends to 49-Day High

Natural gas continued its upward momentum on Tuesday, reaching a new 49-day high of $3.35. A second consecutive daily close above the long-term uptrend line and recent swing high at $3.20 (B) looks likely, adding confirmation of strength. Buyers remain in control at the time of writing, with trading concentrated in the upper third of the day’s range. Support was reinforced by today’s higher low of $3.25, which also marks a successful retest of the uptrend line. Notably, this is the first full trading day above the trendline since August 7 – an encouraging technical development.

ABCD Pattern and Key Pivot Levels

While strength has been confirmed, natural gas now confronts a decision zone. The ABCD measured move symmetry between the rising AB and CD legs aligns with the 100% projected target at $3.34. This creates the possibility of a pivot and pullback, especially since a lower gap remains unfilled and the market has yet to revisit the 20-Day and 50-Day moving averages for support. These moving averages, converging near $3.00, represent important levels to watch if selling pressure emerges.

Path Toward 200-Day Average

A strong daily close above today’s high could open the door to higher levels. The next upside zone lies near the 200-Day moving average at $3.49, reinforced by the 127.2% ABCD projection at $3.50. The overlap of multiple indicators at this level strengthens its potential importance as resistance. Before that target is reached, however, natural gas must break decisively above a descending trendline, a move that would further confirm strengthening demand.

Outlook

The interaction with the long-term uptrend line has turned into a bullish signal. A sustained close above the 200-Day average would mark a significant shift in trend dynamics and encourage further bullish momentum. Until then, the $3.25 level serves as immediate support, while the $3.34–$3.35 area defines the near-term decision point for traders.

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