business π Natural gas trend facing a critical breakout test
The overall outlook for natural gas is currently bearish due to the developing downtrend structure. This bearish trend remains evident as prices stay below the 50-day, 100-day, and 200-day moving averages. A decisive breakout above the recent lower swing high of $2.89 is necessary for any change in momentum. If this level is breached, it could trigger a breakout of the four-week consolidation range. Potential upside targets include $2.98, though resistance may first appear near the 50-day moving average around $2.96. π