Natural Gas: support bounce or another rejection?

📰 News:
Natural Gas remains under pressure as cooler weather forecasts reduce expected power demand for air conditioning. High US production and comfortable storage levels also limit upside.

LNG demand is not strong enough to fully absorb supply, so the broader macro picture is still bearish. However, price is now testing the 2.67–2.68 support zone, where buyers are trying to defend the previous low.
The next important catalyst is the EIA storage report. A smaller-than-expected build could support a rebound, while a larger build would increase downside pressure.

📈 Bullish scenario:
If Natural Gas holds above 2.67–2.68 and reclaims 2.71, buyers may try to push price toward 2.74 and 2.76–2.80.

📉 Bearish scenario:
If price closes below 2.67 on H1, the support bounce fails. In that case, sellers could push Natural Gas toward 2.62–2.60.

⚪ Neutral scenario:
While price stays between 2.67 and 2.71, the market remains in consolidation with no confirmed direction.

⚠️ Invalidation:
The long setup is invalidated if Natural Gas holds below 2.66.

⚠️ Not financial advice.