Gasoline Prices in Decline Amid Broader Market Weakness

Natural gas has broken down from its late-July swing high near $3.00, slicing through a rising trend line and short-term moving averages to confirm a resumption of the broader downtrend.

The selloff dragged price all the way down to the $2.682 area before buyers stepped in, resulting in a shallow recovery with higher lows.

However, this bounce appears more like a corrective pullback than a full trend reversal, as price is now testing a descending trend line that aligns with the 61.8% Fibonacci retracement at $2.872.

If the down move is simply pausing before another leg lower, this confluence could act as a strong ceiling, potentially limiting further gains.