Natural Gas severely oversold now and perhaps building a recovery in to the end of the week as expected. We will need to regain 4455/60 quite quickly to retest 4490/4500. This in fact held a move higher perfectly yesterday, but a break higher today should then target 4545/55. We should struggle here but if prices can continue higher look for a selling opportunity at 4575/85 and a high for the day expected.
Immediate support is 4400/4395 but a break below last week's low and support at 4375 keeps the market under pressure for 4353/48. A break below 4340 adds pressure for a retest of May lows, 3 month trend line and 200 day moving average support at 4301/4296. A good chance of a low for the week here. Exit all shorts and try longs with stops below 4266.