Natural Gas Price Consolidation Tests Bearish Resolve

Natural gas futures have been consolidating near their lows, testing the resolve of bearish investors.

The daily chart shows a larger trend structure, with key levels at $2.67 and $2.89 serving as pivotal points for the market.

A decisive decline below $2.67 would indicate a continuation of the bearish trend, potentially breaking down to the lower swing low of $2.65 from April.

Conversely, a rally above last week's high of $2.89 could shift momentum in favor of the bulls, with initial upside targets at the 50-day moving average and the lower swing high from July at $2.98.