Natural Gas Price Analysis: Bulls step in but face wall of resistance

• Nat-gas bears remain in control on the front side of the bearish trend. 
• Bulls coming up for air but will face resistance in the correction. 

Nat-gas on Thursday fell sharply to a 1-month low as the following technical analysis will illustrate. The commodity is under pressure due to ample supplies and mild US temperatures. 

A weekly EIA storage report was also bearish, as it showed a 110 billion cubic feet injection that topped both forecasts and averages, and kept an inventory surplus a beefy 17% above normal.  

The recent move below 2.234 is leaving the door open for further downside as follows:

NatGas H4 charts

The market is still very much front side of the bearish trendlines and heading toward 2.091. However, a meanwhile correction could be on the cards: