0&&s)if(o){var a,r=(a=e.newCount)>99;s.textContent=r?"99+":a+"",null===(n=s.parentElement)||void 0===n||n.classList.add(Jn)}else s.style.display="block"},f=function(){u.refreshPanel().then(m).then(te).catch((function(){}))};if(e.addEventListener("close-all-menus",(function(){ke(c)||d()})),c){f();var v=setInterval((function(){f()}),3e5);e.onDestroy((function(){clearInterval(v)})),o?l&&l.addEventListener("mouseenter",(function(){p(),null==n||n.show()})):c.addEventListener("mouseenter",(function(){p(),null==n||n.show()})),c.addEventListener("mouseleave",(function(){d(),null==n||n.hide()}))}e.addElementListener(i,"click",(function(){ee("ybar","notification","",{elm:"btn",elmt:"block"===(null==s?void 0:s.style.display)?"newalert":"",subsec:"notification",itc:"1"})})),a&&Se(e,a,"ybar","notification",{elm:"expand",subsec:"notifications",itc:"2"}),e.addElementListener(r,"focusin",(function(){i&&(i.checked=!0),null==r||r.classList.add("ybarMenuOpen")})),e.addElementListener(r,"focusout",d),e.addElementListener(t.tooltipContainer,"focusin",(function(){null==n||n.show()})),e.addElementListener(t.tooltipContainer,"focusout",(function(){null==n||n.hide()}));var y=e.getConfig().device,h=document.getElementById("ybar");h&&h.classList.contains("ybar-ytheme-crunch")&&(io=0);var b=new RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Barchart InsightsSun, September 28, 2025 at 3:52 PM GMT+2 2 min readIn a recent Market on Close livestream, John Rowland, CMT, tackled a question on natural gas into year-end — and his breakdown is one traders won’t want to miss.Right now, natural gas (NGX25) is stuck in a sideways range near $3.20. But John sees the potential for major movement in either direction as we move deeper into winter.Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.Upside targets: $4.50–$5.00 as base case, with a possible spike toward $6 if catalysts hitDownside floor: ~$2.85 as near-term supportCurrent range: ~$3.20 (the “shoulder season” lull between summer and winter demand)www.barchart.comColder-than-expected winter weather in the U.S.Escalation of sanctions against RussiaEnergy supply disruptions in EuropeRising demand from data centers & electricity generation (45% of U.S. power still comes from natgas)Warmer winter, reduced heating demandStable LNG exports and no geopolitical shocksOversupply in U.S. productionFor traders who want exposure, John flagged the ProShares Ultra Bloomberg Natural Gas ETF (BOIL), a 2x leveraged fund, as a short-term vehicle:“I would play BOIL on a short-term momentum basis. Not as an investment vehicle.”That’s because leverage + daily resets make products like BOIL and its inverse counterpart, the ProShares UltraShort Bloomberg Natural Gas ETF (KOLD), better for tactical trades as opposed to long-term holds.Want more diversified exposure? Use Barchart’s ETF Finder for Energy to screen for ETFs focused on natural gas and energy equities.And don’t forget to track pricing and contracts on Barchart’s Energies Futures page.Natural gas is calm now — but John’s roadmap shows how quickly it could break out. Traders should:Map out the $2.85 downside vs. $4.50–$6 upside rangeWatch weather and geopolitics for catalystsUse futures, ETFs, and leveraged products tacticallyWatch the clip from Market on Close: On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. 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