Natural Gas futures are trading near $3.51, consolidating after a strong rebound from $2.99. The price is testing a key descending trendline around $3.55, with resistance at $3.65. A close above this zone could signal a breakout toward $3.76, while failure to clear it may lead to short-term profit-taking toward $3.42 or $3.30.
The RSI at 80 shows overbought conditions, hinting at limited upside in the immediate term. Both the 50-EMA ($3.22) and 200-EMA ($3.26) have turned supportive, reflecting strengthening bullish momentum.
Overall, while the broader trend is improving, traders should watch for a possible pullback before the next leg higher.
