Natural Gas could sink to 3.00 – SocGen

Natural Gas has reached potential support zone of 3.50/3.46 representing the low of December 2021. A break below here would open up further losses to 3.00, strategists at Société Générale report.

4.32 and 4.75 expected to be short-term resistances

“Daily MACD is within deep negative territory denoting an overstretched move.” 

“An initial bounce can’t be ruled out however 10-Day EMA at 4.32 and 4.75 are expected to be short-term resistances.”

“In case the decline persists below 3.50/3.46, Natural Gas could dip towards 3.31 and perhaps even towards projections of 3.00.”