NATGAS chart overview

The price of natural gas fell to a one-and-a-half-year low of $3.20 on Friday. The last time we were at that place was in June 2021. During the Asian trading session, the gas price formed a bottom at that point and began slightly recovering to $3.37, the current level. We need a positive consolidation and a break above the $3.40 level for a bullish option. Then it is necessary to maintain up there so that with a new bullish impulse, we can start the continuation of the resistance of the price. Potential higher targets are the $3.60 and $3.80 levels. For a bearish option, we need a negative consolidation and a new test of support at the $3.20 level. A break below would increase bearish pressure, which could see the price decline and test the $3.00 support level.