Natural Gas Price Break Above $2.89 Remains Elusive

Natural gas prices are showing early signs of support, but a bearish structure remains intact until they break above key resistance near $2.89.

On Tuesday, natural gas triggered a one-day bullish reversal to reach a high of $2.81, with a higher daily low of $2.72 marking short-term support after a bullish doji hammer candlestick pattern formed on Monday was triggered.

The 20-day moving average at $2.79 was reclaimed, confirming short-term strength, but the broader technical structure remains vulnerable to renewed selling pressure.

A bearish structure dominates the market, with natural gas futures trading within a four-week consolidation range near recent lows. Support is at the recent low of $2.67, while resistance is at last week's lower swing high of $2.89.

Last week's bearish inverted hammer candlestick pattern triggered this week on a drop below $2.76, keeping the bearish structure intact for now.