Natural Gas Weekly Technical Outlook

Natural gas' choppy rebound from 1.611 extended last week and further rise would be seen to 61.8% retracement of 2.495 to 1.611 at 2.157. Upside momentum isn't too convincing yet and such rally could turn out to be a corrective pattern. Thus, we'd be cautious on loss of momentum and topping above 2.157. Meanwhile, break of 1.1872 support will suggest that such rebound is completed.