Natural Gas Weekly Technical Outlook

Outlook in Natural gas remains unchanged. Price actions from 3.366 short term top are seen as a consolidation pattern. Downside should be contained by 50% retracement of 1.611 to 3.366 at 2.489 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.