Natural Gas Breakout Sees Bullish Targets Above $3.20

Natural gas prices have broken through key resistance levels, according to technical analysis. A recent higher swing low followed by bullish signals on the daily chart has confirmed a breakout above $2.99.

The move suggests that another attempt at higher prices could be successful if natural gas stays above its 50-day moving average and advances above $3.03.

Technical analysts see potential targets, including the 61.8% Fibonacci retracement of the prior decline at $3.07 and the 78.6% Fibonacci retracement at $3.20.