Natural Gas failed just below our target of 3680/700 where a high for the week was expected. We broke support at 3579/66 & closed below the 100 day moving average at 3578 adding pressure & today could continue lower to 3521 then 3495/87. This should hold the downside but longs need stops below 3452.
Immediate resistance at 3595 could hold a move higher but above here look for a selling opportunity at 3625, with stops above 3655.
Weekly outlook: Downside pressure could resume at the start of the week but it is crucial that we hold last week's low of 3.379, as a break ends the 7 month bull run & targets 3.220/175. A close above the 100 day moving average at 3.585 would be more positive this week but we then need a close above strong resistance at 3.682.