Nat Gas' fall from 4.879 extended Wednesday, now, intra-day bias is on the Southside as long as 4.609, Key resistance, holds.

A clear break of 4.322, Key support, will argue that the rebound from 3.255 may be finished too after hitting the Fibo 61.8% projection level at 4.805.

If that is the case, a deeper decline could be seen towards 3.951, Key support, and lower, but before a break of 4.322, a rebound from 3.255 is mildly in favor to continue. A clear break above 4.609 will turn the bias back to the Northside for retesting 4.879 first.

The Big Picture: the medium term rebound from 3.255 is in progress as long as 3.951, Key support, holds. A clear break of 5.194 resistance confirm that whole decline from 6.108 the Y 2010 high has ended with 3 waves down to 3.255. This development also suggests that the rebound from 2.409, the Y 2009 low is resuming for 6.108 and above, possibly to 38.2% retracement of 13.694, the Y 2008 high to 2.409 at 6.72.

On the Downside: a clear break of 3.951 support, though, will put the light back on 3.255, Key support, instead. Stay tuned...