Natural Gas Price Breakdown Triggers Range Reversal Possibilities

Natural gas has been consolidating within a broad range since late July, with resistance at $2.814 and support at $2.641.

Price recently broke down from the upper half of this range, sliding from the $2.750 region in mid-August to retest the range floor near $2.641.

The bounce off support is still in its early stages, with price trading around $2.704 after climbing off the recent low.

Buyers have repeatedly defended the $2.641 level, potentially paving the way for natural gas to work its way back up toward the mid-range zone and challenge resistance once more.