Natural Gas Weekly Technical Outlook

Natural gas breached 2.443 low briefly last week but recovered and closed above. At this point, we'd maintain that recent price actions are forming a sideway pattern. And strong support should be seen around 2.443 to bring rebound. Break of 2.673 resistance will target upper side of the range at 3.105 again. But upside attempts should be limited by 38.2% retracement of 4.544 to 2.443 at 3.246. However, sustained break of 2.443 will confirm down trend resumption.