Natural Gas closed lower on Wednesday but remains above the 10-day moving average crossing.

The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bullish hinting that a short-covering rebound is possible near-term.

Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.

If it renews this year's decline, weekly support crossing is the next downside target.

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