Natural Gas closed higher due to short covering on Wednesday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the near-term bearish outlook.