Natural Gas Weekly Technical Outlook

Natural gas dipped lower last week but is held above 2.443 low. Outlook is unchanged. Recent price actions are still viewed as a sideway consolidation pattern and more range trading is still expected. On the downside, strong support should be seen around 2.443 to bring rebound. Meanwhile, above 2.794 resistance will bring rebound. But upside attempts should be limited by 38.2% retracement of 4.544 to 2.443 at 3.246.

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