Natural Gas (NG1!) is currently facing a critical juncture as it approaches a key resistance zone. The price has rebounded from its August lows and is now nearing the 3.25 to 3.30 range. This area is significant because it aligns with the September high and the daily 800 EMA, a level that has acted as resistance throughout the summer.
The daily TDI indicator shows strengthening bullish momentum during the recent rally, but a bearish reversal signal has not yet appeared. Traders are closely monitoring this resistance zone for signs of a potential rejection, which could indicate a bearish correction. The EIA Storage Report is expected to serve as a catalyst for movement in this volatile market.