Natural Gas Weekly Technical Outlook

Natural gas dipped further to as low as 1.682 last week and breached 1.684 support before recovering mildly. At this point, we're still expecting strong support around 1.684 medium term bottom to bring rebound. Considering mild bullish convergence condition in 4 hours MACD, break of 1.832 minor resistance will indicate near term reversal turn outlook bullish. However, firm break of 1.684 will invalidate our view and carry larger bearish implications.