Natural gas is still trending lower, as it formed fresh lows after bouncing off the top of its descending channel on the hourly time frame. The Fibonacci extension tool shows levels that sellers might be aiming for. The commodity is already down to the full extension at $1.594 that lines up with the mid-channel area of interest, so a return in bullish pressure might be seen here. In that case, natural gas could still pull up to the channel top again. Stochastic is indicating oversold conditions or exhaustion among sellers, so turning higher would mean a return in bullish momentum. RSI already seems to be bottoming ... (full story)