Natural Gas Prices Capped at $2.75 Amid High Supply and Muted Demand

Natural gas prices are currently facing muted demand and high supply, which is capping its price at $2.75. This situation is expected to change with the onset of cooler weather in the Northeast United States in a couple of weeks. Typically, this marks the beginning of a slight increase in bullish momentum for natural gas.

However, any rally would need to contend with resistance from the 50-day EMA at $2.90 and then the $3 level. The situation in the Middle East could also impact natural gas production if Qatar's output is affected by Iranian missiles, particularly during the winter months.