Natural Gas Weekly Technical Outlook

Natural gas surged to as high as 3.568 last week. The strong break of 3.366 resistance confirmed resumption of whole rise from 1.611. Further rise is now expected to 61.8% projection of 1.611 to 3.366 from 2.546 at 3.631 first. Firm break there will target 100% projection at 4.301. On the downside, break of 3.277 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.