Natural Gas Weekly Technical Outlook

The correction from 3.366 short term top continued last week and dipped lower. Outlook remains unchanged and we'd expect strong support around 50% retracement of 1.611 to 3.366 at 2.489 to contain downside and bring rebound. Above 2.875 minor resistance should indicate completion of the corrective fall and turn bias to the upside for 3.366. Rise from 1.611 bottom is expected resume after the consolidation completes.