Natural Gas Price Prediction for Next Week (20th - 24th April 2026)

| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 229 | 240 | 250.60 | 262 | 281 |
NYMEX Natural gas futures hovered near six-week lows this week, pressured by easing supply concerns as prospects for a Middle East de-escalation improved. Sentiment strengthened after Donald Trump signaled optimism over a potential US-Iran peace deal and confirmed a 10-day Israel-Lebanon ceasefire, while Iran reopened the Strait of Hcormuz to commercial shipping. This raised hopes that disruptions affecting nearly one-fifth of global LNG flows may ease. However, risks remain as the US naval blockade on Iran continues. As of April 15, gas storage in Europe was 30% full, compared to the 5-year seasonal average of 42% full for this time of year. The Commodity Weather Group said that forecasts shifted cooler across the eastern two-thirds of the US through April 20, but above-average temperatures are expected in the eastern US and the Upper Midwest from April 21-25, adding positive pressure on prices.
MCX Natural Gas prices continued to remain under pressure, witnessing a corrective phase after consecutive declines over the past two weeks, and closing the week at 250.60 below all key daily moving averages, with 20-50-100-200 DEMA placed at 26130, 281.20, 300.10, and 306.50 respectively, Open Interest declined by 13,310 lots alongside a slight price recovery, indicating short covering in the counter rather than fresh buying interest. This suggests that the recent upside is primarily driven by unwinding of short positions and may lack strong follow-through unless supported by fresh long build-up. Technical indicators remain subdued, with RSI hovering near 40.29 and signal line around 40.42, indicating weak momentum and lack of strong directional conviction, keeping the overall bias tilted towards the downside unless momentum improves significantly.
Overall trend remains bearish, but traders should remain cautious around key support zones. While minor pullbacks may occur due to short covering, the broader strategy continues to favor sell-on- rise opportunities.
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Prediction given by Technical Research Team - Choice



