Natural Gas chart overview

The price of natural gas today formed a new September low at the $7.40 level. The support zone at the $7.80 level was broken. On Thursday, the price was at the $9.20 level and has been in a bearish trend since then. We need further negative consolidation and a break below the $7.40 level to continue the bearish option. Potential lower targets are $7.20 and the $7.00 level, our July low. For a bullish option, we need a new positive consolidation and a return above the $7.60 level first. Then we would get minor support in the MA20 moving average. The following important target is the $8.00 level. At the same time, the additional resistance at that point is the MA50 moving average. a gas price breakout above would move us into a safer zone, and we could continue the recovery. Potential higher targets are $8.20 and $8.40 levels.