NATGAS erases much of yesterday's rebound and falls below the 14-period average again, although a clear signal of a possible larger correction would occur when yesterday's bullish gap closes around $2.56. A drop below this level could lead to a drop as low as around 2.2-2.3 in June, as potentially indicated by seasonality. 
Source: xStation5
Seasonality points to a potential local top. Importantly, lower temperatures are expected in the Midwest and on the East Coast, which is not expected to increase the demand for electricity for air conditioning. Source: Bloomberg Finance LP, XTB
Daily summary: Dollar rout after NFP, Gold back on the rise
Three markets to watch next week (07.08.2026)
Gold gains almost 3% trying to reverse the trend
US OPEN: Shallow rebound in the shadow of a weak labor market
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