Natural gas dropped further last week and reached as low as 2.685. Further decline is still expected for channel support (now at 2.62). Break there will affirm the rebound from 1.902 has completed at 3.277 and bring deeper fall to 2.168 support and below. However, downside momentum is a bit unconvincing with bullish convergence condition in 4 hours MACD. Break of 2.848 will dampen the immediate bearish case and bring rebound instead.
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Natural Gas Weekly Technical Outlook
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