Natural Gas Prices Hold Steady Amid Uptrend Line Test and Demand Optimism
Natural gas prices have held steady this week, hovering near the uptrend line and testing key technical levels, amid growing optimism over demand. Futures currently trade around the $3.50‑3.54/MMBtu range, just under the 50‑day EMA at roughly $3.50–3.55 and above the 200‑day EMA near $3.50, signaling a bullish.
Supportive fundamentals include strong U.S. consumption—forecast at about 82 Bcf/d—and rising LNG exports to Europe, cushioning prices despite record-high domestic output With demand poised to pick up this summer, especially in Europe, and prices stabilizing above the long-term moving average, traders remain cautiously optimistic. A breakout above $3.50 could retest $3.80, while a fall below roughly $3.38 may signal a move toward $3.20.
