Natural Gas closed lower due to profit taking on Tuesday but remains above the 20day moving average crossing. The low range close sets the stage for a steady to lower opening on Wednesday.
Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends Monday's rally, the 38% retracement level of the May-August decline crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.