Natural Gas Daily Technical Outlook

Natural gas' decline extended further to as low as 4.54 and the break of 100% projection of 6.108 to 5.06 from 5.68 at 4.632 indicates that deeper decline is underway. Intraday bias will remain on the downside as long as 4.79 minor resistance holds and further fall could be seen to 4.157 support. On the upside, above 4.79 will turn intraday bias neutral and bring recovery. But break of 5.06 support turned resistance is needed to be the first signal to indicate that natural gas has bottomed. Otherwise, short term risk will remain on the downside.

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Natural Gas Daily Technical Outlook