Natural Gas Prices Volatile: Factors Impacting Sentiment and Futures Gains
Natural gas falls to a new trend low but finds support and rallies back above the prior trend low, signaling a potential bullish one day candlestick pattern. The decline captures all prior price action, and if today's low can sustain support, a rally back to test prior support levels as resistance could come soon. However, bearish signs remain as natural gas continues to close below the long-term downtrend line, reflecting underlying weakness in demand. Strength will be indicated on an advance above today's high, with potential resistance levels at 2.425 and 2.49, while a more significant price zone is around 2.88.