Forex▼ Bearish
Natural Gas: Trendline Break Opens Path to $3.02 Support
Natural gas broke below its 20-day MA and uptrend line, opening a path toward the 50-day MA near $3.02. A reclaim of $3.21 would negate the bearish setup.
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Natural gas broke below its 20-day moving average and a short-term uptrend line on Thursday, a move that shifts the near-term bias lower. The session printed its full range below those indicators after an initial bounce from $3.15 failed to hold.
Support now sits at the interim swing low of $3.12. A break below that level would open a path toward the rising 50-day moving average near $3.02, a level that has acted as support since it was reclaimed in May. The 50-day MA is also converging with the June swing low at $3.02, making that zone a major test of the broader bullish trend structure.