Saad Ullah
⬤ Natural Gas (NATGAS) is showing clear weakness on the daily chart, with price action locked in a bearish structure. The market remains below a key horizontal resistance zone near $3.25, where buyers have repeatedly failed to break through. This persistent rejection reflects a lack of conviction from bulls and keeps downside pressure firmly in place.
⬤ NATGAS is trading below the 21 EMA, which continues to act as dynamic resistance and blocks any meaningful recovery. The failure to reclaim this moving average signals weak bullish momentum. As noted in NATGAS Stuck Below $3.68 EMA as Death Cross Risk Builds, sustained trading below key moving averages consistently deepens bearish conditions and raises downside risk.
⬤ Earlier price action had hinted at a possible double bottom, which could have set up a reversal. However, a strong bearish continuation candle has invalidated that scenario. This mirrors the behavior described in Natural Gas Tests $3 Support After 8% Drop, where failed recovery attempts gave way to continued weakness -- and in Natural Gas Holds $2.86-$2.93 Micro Support Zone Amid Descending Trendline Pressure, illustrating how support zones erode under sustained selling pressure.
⬤ Sellers remain in control with no clear bullish confirmation in sight. Until NATGAS breaks above resistance and holds, the prevailing trend is likely to stay bearish -- reflecting ongoing weakness in both price structure and market sentiment.
Saad Ullah
