Natural Gas Prices Resume Uptrend Amid Channel Support

Natural gas prices have been steadily climbing within an ascending channel since late August. This uptrend remains intact due to rising lows and highs.

The price peaked near $3.061 but pulled back sharply, currently hovering around the lower boundary of the channel at $2.914.

If this trend line support holds, natural gas could resume its climb toward the swing high and beyond. To confirm that the correction is over, bulls need to reclaim levels highlighted by the Fibonacci retracement tool.