Natural gas looks structurally bid, according to research published this week.
On the technicals, one set of analysts reads Henry Hub as a "strong buy": all 12 moving averages flash buy signals, eight of nine major indicators point up, and both RSI and MACD confirm momentum. Resistance sits near $2.852, support at $2.817. The one caution flag — Williams %R is overbought, so a short-term pullback wouldn't surprise.
On the fundamentals, a separate published view argues Asian LNG prices stay well above pre-conflict levels through 2027. The reasoning: the closure of the Strait of Hormuz and damage to Qatar's Ras Laffan plant — which researchers estimate could take up to five years to repair — have pulled meaningful supply off the global market, with no easy export workaround and Asian demand still strong.
That research forecasts the Japan-Korea benchmark peaking near $22.5/mmbtu in Q3 2026, holding above $20 through year-end, and only normalizing by 2028. The bull case here is structural, not cyclical.