Natural Gas closed lower due to profit taking on Wednesday as it consolidates some of the rally off May's low. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the 50% retracement level of the November-May decline crossing is the next upside target.