Natural Gas Prices Plummet Amidst Storage Glut and Delayed LNG Facility
Natural gas is facing downward pressure as it hovers near the 2.54 mark, with a drop below signaling a bearish continuation. The emergence of a larger bearish flag pattern raises concerns about further declines, with potential lower targets at 2.50 and a price range from 2.44 to 2.42. The August 21 swing low of 2.425 holds significance as it represents a higher swing low that defines the rising trend channel, which is now at risk of being broken.