Natural Gas Bear Flag Triggers Deeper Downside Warning

Natural Gas Price Forecast: A bear flag pattern has emerged in the daily chart of natural gas, indicating potential further downside. According to the chart, a long-term trend structure is visible, with a series of lower swing highs and lower swing lows following the January peak at $7.44.

The recent breakdown from an area of dynamic trend support and consolidation has added to this bearish trend structure. The April trend low near $2.50 is currently serving as a potential support level, but it also has a good chance of being challenged and broken.

A measuring objective from the flag pattern suggests an initial downside target near $2.54. However, if Tuesday's high of $2.79 can be recovered, it would weaken the bearish setup and signal that the breakdown may have failed.