Natural Gas Weekly Technical Outlook

Natural gas was under mild pressure in the past two weeks but managed to stay around middle of recent range of 2.443 and 3.105. Outlook stays neutral first. The sideway pattern would likely extend further in near term. That is, downside attempt should be contained by 2.443 low. Meanwhile, upside attempts should be limited by 38.2% retracement of 4.544 to 2.443 at 3.246.

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