Natural gas futures for October 2026 delivery on the European Energy Exchange (EEX) are currently retesting a key trendline, creating a period of compression. The price is holding above an ascending trendline but remains capped by a descending trendline that originated from the March highs. The current price is testing the 50-day exponential moving average (EMA) at $3.83, with a critical horizontal support level at $3.75. A breakdown below this level could trigger a decline toward $3.43.
On the upside, a breakout above the $4.00 mark could open the door for a rally toward $4.24. The Relative Strength Index (RSI) currently stands at 37, indicating ongoing consolidation with a slight bearish bias. Analyst ArslanAliButt maintains a neutral stance, advising traders to watch for a breakout above $4.00 for potential long positions or a breakdown below $3.75 for short opportunities.