Downturn Continues for Natural Gas and Oil Prices

Natural gas prices have been in a downtrend since last year, and analysts are warning of further declines. The EEX NBP EGSI Natural Gas Day Futures contract for August 2026 (D21) is a key indicator of market sentiment.

A close look at the chart reveals a lower highs and lower lows pattern, confirming the downtrend. Key support levels to watch out for are 2.6 and 2.4. The Relative Strength Index (RSI) is also oversold, suggesting a potential bounce setup.

The outlook for oil prices is similarly bearish, with analysts warning of a breakdown scenario. Support levels to watch are 118 and 108. Geopolitical tensions and inflationary pressures are expected to continue weighing on oil prices.