On Friday, the price of natural gas fell to the $6.50 level and found support there. During the Asian trading session, the price slowly recovered to the $6.70 level, and if it continues at this pace, it could climb to the previous high at the $6.80 level. There we could expect the next potential resistance or a break above for continued price recovery. Potential higher targets are the $7.00 and $7.20 levels. For a bearish option, we need a negative consolidation and a drop to retest the previous low at $6.50. Increased price pressure would likely have a negative impact and further lower the price of natural gas. Potential lower targets are the $6.40 and $6.20 levels. If we were to go down to a lower target, the gas price could test the $6.00 level.
