LNG Feedgas Faces Off Against Permian Supply in Week Ahead

Natural gas futures closed higher last week after a spike to the upside turned the minor trend up on the weekly swing chart.

A trade through $2.990 will reaffirm this trend, while taking out the swing bottom at $2.668 will change it back down.

The short-term range is $3.420 to $2.668, and its retracement zone at $3.044 to $3.133 is seen as a primary upside target for buyers.

Overtaking the upper or 61.8% level at $3.133 could indicate the presence of buyers, potentially triggering an acceleration to the upside with the first key target being the swing top at $3.420.