FxNews—The U.S. Natural gas dipped from $3.47. However, the selling pressure eased after the commodity neared the $3.0 critical support.
The immediate support is at $3.0. As long as the prices exceed this support, the NATGAS trend outlook should be considered bullish. That said, the immediate resistance is at $3.1.
The bull market will likely resume if the Natural Gas prices close above $3.1. In this scenario, bulls will likely target $3.2, followed by $3.3.
Bearish Scenario
Conversely, the bullish outlook should be invalidated if NATGAS prices dip below $3.0. A new bearish wave could be triggered if this scenario unfolds, targeting the October 4 high at $2.8.
Please note that the 100-period simple moving average supports the $2.84 critical pivot.
