Natural gas prices showed a minor change in the pattern of declining prices, ending a consecutive decline of eight days with lower daily highs and lower daily lows. While the bear trend remains intact, a drop below 1.575 signals a likely bearish continuation, while a rally above 1.64 indicates strengthening. A daily close above 1.67 could confirm strength and potentially lead to a test of prior support levels as resistance, with a potential target at the previous swing low of 2.31.
Natural gas prices are expected to continue falling, with a bearish trend triggered by a drop below 2.00. The strong downward momentum suggests a potential further decline below 1.95, with initial targets around 1.80 and potentially 1.61/1.60. Despite the extended downside, a bullish reversal would require a rise above 2.17.
Natural gas is facing downward pressure as it hovers near the 2.54 mark, with a drop below signaling a bearish continuation. The emergence of a larger bearish flag pattern raises concerns about further declines, with potential lower targets at 2.50 and a price range from 2.44 to 2.42. The August 21 swing low of 2.425 holds significance as it represents a higher swing low that defines the rising trend channel, which is now at risk of being broken.
