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Just looked at natural gas support and resistance levels and there's definitely something brewing here. After that sharp 92% rally that peaked last week, we're seeing some pullback action around the 200-Day moving average sitting at 2.46. The pattern looks like a classic retracement setup - price bounced but it's clearly not comfortable pushing higher right now.
What I'm watching: natural gas support and resistance zones suggest the 2.61-2.63 range is where we might see some pushback on any bounce. If it closes above Friday's 2.71, maybe we test those recent highs again. Otherwise, I'm expecting resistance to kick in and push price back down to retest that 200-Day line. There's also that bearish shooting star from last week that lines up with the 50-Week MA at 2.50 - when two moving averages align like that, it matters.
The real question: does natural gas support hold at 2.475 or do we break lower? A close below that level gets messy, and then we're looking at 2.31 and eventually the 2.235 swing low from way back. For now, I'm treating this as a bounce into resistance before the next leg down.