Natural Gas Price Forecast: Breakout Above $3 Targets $3.35 Level

The natural gas market is showing signs of recovery after breaking above $3. Natural gas price forecasters are looking at the 200-day EMA and $3.08 as a barrier to further gains.

According to experts, if natural gas can break above $3.08, it could target the $3.35 level, which was previously an area of supply.

However, there are still challenges ahead for the market. The US is sitting on a 5% surplus of natural gas storage compared to the five-year average, putting downward pressure on prices.

Despite this, the outlook has shifted from bearish to slightly bullish with caution. As we move into the new season, supply constraints are easing and demand is increasing, providing some support for natural gas prices.