Commodities
Natural Gas Prices Soar After Ascending Channel Breakout
Natural gas prices surged higher on August 20, 2026, after breaking above its ascending channel. The price spiked to a high near $2.874 before easing back to the $2.796 area.
This pullback could be a healthy pause that allows the market to attract fresh buyers before any further advance.
The Fibonacci retracement tool highlights likely support levels drawn from the recent swing low near $2.640 to the high at $2.874. The 38.2% Fib lines up with current price around $2.785, while the 50% level sits at $2.757.
A deeper correction could reach the 61.8% Fib at $2.729, which is close to the channel's midline and could serve as a stronger area of interest for dip buyers.