Natural Gas Breaks 50-Day EMA After $3 Rejection, Analyst Says

Natural gas futures fell below the 50-day exponential moving average on Friday after failing to hold the $3 level, according to FX Empire senior analyst Chris. The rejection came as the market rolled into the October contract, a shift that typically marks the start of the seasonal turn toward heating demand.

Chris said the weather outlook remains mild, but the October contract can be the beginning of a turnaround. "It just comes down to weather prediction," he said. He noted that Qatar has recently been buying liquefied natural gas from the United States to help fulfill contractual obligations in Europe, a factor that could provide a price floor.