Short

NATGAS chart overview

During the Asian trading session, the gas price continued its retreat from yesterday's high to the $6.15 level. The current price consolidation is around $5.80. Bearish pressure is still noticeable, which could further affect the price of gas. The next target supports the $5.60 level. Additional price support at that point is in the lower trend line. A break below would mean we could see further declines in gas prices. Potential lower targets are the $5.40 previous low, then the $5.20 level. For a bullish option, we need a positive consolidation and a return above the $6.00 level. After that, we need to stay in that zone and, with a new bullish impulse, start the recovery. Potential higher targets are the $6.20 and $6.40 levels.

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