Natural Gas Price Forecast: Bulls Target $3.32 Resistance

Short-Term Support Holds as Resistance NearsNatural gas held above a key short-term support zone for the third consecutive day on Friday, suggesting buyers retain underlying control following Thursday’s advance to a new high of $3.298. However, this sign of strength faces a resistance zone extending from Thursday’s high to the September high of $3.317, reinforced by the upper boundary of a rising trend channel. Support was established at Friday’s three-day low of $3.106, completing a 50% retracement of the preceding advance while testing the 200-day moving average.Natural gas daily chart shows consolidation holding key support$3.11 Support Remains Critical to Bullish OutlookThis short-term bullish behavior may or may not lead to further gains, but the recovery and subsequent hold above a key long-term dynamic support line keep the door open to further upside. The moving average was recently reclaimed for a second time, strengthening its significance as a technical pivot.