Natural gas faces immediate support at $3.20, with further cushions at $3.06 and $2.90 should the downtrend continue. Conversely, resistance levels lie at $3.47, $3.62, and $3.79. The RSI at 30 suggests oversold conditions, hinting at potential for a rebound, while the MACD’s position below the signal line indicates continued selling pressure.
The price trailing below the 50 EMA at $3.41 reinforces the bearish sentiment. Candlestick patterns show a consistent close below the pivot point, affirming the selling trend.
Overall, the outlook remains bearish below $3.35, but this could reverse if prices rally above this threshold. The short-term forecast anticipates a test of resistance levels if a reversal occurs.