Natural Gas Tests $2.83 Support Amid Trading Volatility

Natural gas futures are hovering near $2.83, testing critical support levels that could determine whether the asset transitions into a corrective phase or resumes its downtrend. Technical analysis highlights a confluence of indicators—including the 200-period simple moving average at $2.814, the 50% Fibonacci retracement at $2.821, and the SuperTrend resistance at $2.906—around a zone of heightened volatility. The Relative Strength Index (RSI) stands at 40.94, signaling near oversold conditions, though traders remain cautious about a sustained rebound.