Natural gas is trading slightly lower, under 4.00, as it consolidates below the 20 day moving average crossing at 4.10. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term.
If August extends last week's decline, the reaction low crossing at 3.710 is the next downside target. Closes above the 10 day moving average crossing at 4.135 would temper the near term bearish outlook in the market.
Monday's pivot point for natural gas is 4.06
First resistance is the 20 day moving average crossing at 4.10
Second resistance is the 10 day moving average crossing at 4.14
First support is last Wednesday's low crossing at 3.87
Second support is the reaction low crossing at 3.71
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