Natural gas prices stay under pressure

Natural gas prices stay under pressure
Natgas below $2.63; bears still eye $2.57 support

​The natural gas market remains under the control of sellers. At this stage, the decline is being contained by support in the $2.59-$2.57 range. The nearest resistance is located around $2.63. 

As long as the natural gas price remains below this level, the risks of a break below support and a further decline toward $2.50-$2.45 will persist.

A break above resistance at $2.63 would open the way for a move toward the $2.70-$2.74 area, although sellers are likely to become active there as well. Overall, the downtrend remains intact, and there are currently no factors pointing to sustained upside, which means selling into rallies remains the preferred strategy.

Geopolitical news, particularly from the Middle East, may trigger short-term spikes in volatility.

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