The natural gas weekly chart shows the long term trend line which was broken as support near the 4.000 level in mid-July. The resultant sell off dropped the spot contract to a 3.724 low before finding support.
Another price break last Monday dropped the market to a 3.727 weekly low, holding 3 ticks above the July low.
The inability to push beneath the July low is a supportive factor for the market.
A rally back over former trend line support which is now resistance at the 4.050-4.100 level is needed to turn the longer term trend back higher.
If this is accomplished, the final seasonal low for 2014 should be in place.
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