Natural gas continues to trend lower and is below a short-term falling trend line as well. However, support at the longer-term descending channel is currently holding, so another quick pullback might follow. Applying the Fib tool on the latest swing high and low shows that the 50% level lines up with the trend line around $2.200 and might be enough to keep gains in check. This lines up with the mid-channel area of interest as well. The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to gain traction than to reverse. ... (full story)