Natural Gas Weekly Technical Outlook

Natural gas dipped sharply last week after failing to take out 55 days EMA. Deeper fall could be seen towards 2.443 low. But after all, recent price actions are seen as a sideway consolidation pattern. Thus, we'd expect more range trading in near term. On the downside, strong support should be seen around 2.443 to bring rebound. Meanwhile, upside attempts should be limited by 38.2% retracement of 4.544 to 2.443 at 3.246.

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