NATGAS bearish pressure on support zone
The price of natural gas continues to put pressure on last week's $6.46-$6.60 support zone. The price failed to form a new higher high and climb above the 38.2% Fibonacci to better position itself. On the contrary, we see the formation of a new lower high and continuation to the bearish side. We are currently seeing the formation of a new lower low and a drop below last week's support. Potential lower targets are $6.2 and $6.00 levels.
