Natural Gas Price Prediction for Next Week (6th July - 10th July 2026)
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 294.50 | 302 | 310.90 | 319.40 | 327.50 |
NYMEX Natural Gas prices declined around 2.5% during the week, pressured by ample domestic supplies, lower crude oil prices, and changing weather forecasts. According to the U.S. Energy Information Administration (EIA), utilities injected 87 billion cubic feet (bcf) of gas into storage for the week ended June 26, lifting inventories to 6.2% above the historical average. Production in the Lower 48 states averaged 110 bcf/day, while LNG feedgas flows remained strong at 17.3 bcf/day, supporting U.S. LNG exports of 10.6 million metric tons in June as major export facilities resumed operations. Meanwhile, easing geopolitical tensions between the U.S. and Iran weighed on energy prices. In Europe, extreme heat boosted cooling demand, but gas storage remained only 48% full, well below last year's 56% and the 61% five-year average.
Natural gas future has been traded back & forth over the course of the week, closed on a positive note on Friday at 310.90. Here, price has continued to trade over its key moving averages i.e. 50 and 200-DEMA levels placed at 295.80 and 299.60 respectively. Daily SAR is also placed at 294.20 which will be major support to look for. Key resistance would be at 319.50. Along with recent sideways price-momentum, we can observe sustained Ol levels around 21,100 lots in July expiry. The momentum indicator, RSI remained around 50 - 55 on 4-hourly. Daily as well as Weekly timeframes.
We are expecting Sideways-to-bullish trend in Natural gas in upcoming week and traders may look for buy-on-dips opportunity.
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Prediction given by Technical Research Team - Choice
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