NATGAS gains amid colder US weather forecasts📈Oil near the resistance zone

The U.S. Henry Hub natural gas market (NATGAS) continued its upward momentum early Monday as investors began pricing in forecasts of colder weather across the United States and Europe. With heating demand expected to rise, market sentiment has gradually shifted toward a pre-winter buying stance. Today, buying momentum is driving prices toward the $3.50 per MMBtu level. The market recently rolled over into the November contract, which traditionally brings higher seasonal pricing as consumption expectations grow.

Since February of last year, natural gas has maintained a broader upward trend, despite occasional corrections. The most recent pullback, in August, bottomed near $2.65, which can now be viewed as a healthy consolidation phase within a longer-term recovery. As temperatures decline, seasonal fundamentals continue to support further price gains. Any short-term dip toward the $3.00 zone could once again attract institutional buying interest. The 200-day EMA near $3.30 currently serves as a key support level, while the 50-day EMA around $3.20 is turning upward, improving the technical outlook for continued price recovery.
There remains an unfilled price gap below current levels, which could temporarily pull prices slightly lower before the next upward move. While such gaps often close, this isn’t guaranteed — particularly when strong fundamentals dominate investor sentiment. Looking ahead, many traders see the $4.00 mark as the next major psychological and technical target. Historically, this area has acted as both resistance and a profit-taking zone, making it a key reference point for long-term investors.

From current levels, any notable pullback may serve as a new opportunity to test buying strength, as traders continue to anticipate tighter supply conditions and rising heating demand in the coming winter months.

Source: xStation5

Weather maps from NOAA indicate a significant cooling trend across the western United States, while temperatures in Florida are expected to ease from recent highs.

Source: NOAA

Today, not only natural gas contracts are rising, but oil prices also gained earlier in the session. However, they ultimately failed to break above the $66 per barrel level, even as OPEC+ maintained its cautious supply increase of 137,000 barrels per day amid ongoing geopolitical tensions and Ukrainian attacks on Russian refineries. OPEC has signaled its readiness to pause or reverse production cuts in an effort to balance weakening demand with ongoing supply pressures. Brent futures prices are facing resistance zone near $65.5 per barell.

Source: xStation5

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days

NATGAS gains amid colder US weather forecasts📈Oil near the resistance zone

Join over 1 700 000 XTB Group Clients from around the world