Natural Gas Trapped Below Key Trend Line Resistance

Natural Gas (NATGAS/USD) is still trapped in a well-defined descending trend line, connecting the early-July swing high at $3.30 to the more recent consolidation highs around $2.99.

Price broke down sharply from this area late in July, plummeting to lows around $2.68 before staging a modest bounce to current levels near $2.73.

A corrective pullback is possible as sellers look to reload, with potential resistance zones identified by the Fibonacci retracement tool.

The 38.2% level sits at $2.799, followed by the 50% retracement at $2.836, while a deeper correction could stretch to the 61.8% Fib at $2.872, which aligns with the descending trend line and may act as a strong ceiling.