"Challenges and Volatility in the Natural Gas Market: A Technical Analysis Perspective"

Natural gas failed to hold support at the 50-Day MA and instead tested the 200-Day MA as support, completing a 61.8% Fibonacci retracement and nearing the target for an extended declining ABCD pattern. The weekly chart shows support at the 50-Week MA, indicating potential for the current correction to complete. The price action suggests a failed upside move, with the long-term trend indicator, the 200-Day MA, being closely watched for signs of strength. A successful test of the 200-Day MA as support could signal a bullish reversal, while a break below 2.65 may lead to increased uncertainty and a potential decline to the next Fibonacci level at 2.48.