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Natural Gas closed slightly higher due to short covering on Wednesday as it consolidates some of the decline off January's high. Stochastics and the RSI are oversold but remain bearish signalling that sideways to lower prices are possible near-term. If it extends the aforementioned decline, the 87% retracement level of the October-January rally crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.