Thoughts on NatGas — Potential Headwinds at 2.77

Been watching $NATGAS pretty closely over the last few sessions, and it's certainly had a decent bounce from its recent lows. The move today, with it currently trading around 2.747, definitely shows some underlying strength, especially considering the intraday high touched 2.772 earlier. That 2.77-2.772 area really seems to be acting as a short-term resistance level.

From a technical perspective, if we can break and hold above that 2.77 mark, I'd be looking for a potential retest of the 2.85-2.90 region. However, a failure to push past this current ceiling, especially if we see a close back below, say, 2.73, could suggest that this bounce is running out of steam. The risk to any further upside continuation here is clearly a failure to consolidate above 2.77. If that happens, a retrace back towards 2.65 wouldn't surprise me. Just my two cents looking at the charts.