October has been a bad month for natural gas and there might be more to come. The breakdown from the 10-week descending triangle indicates a downside target of at least $3.40:

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Large natural gas storage builds also present a significant headwind for the market - from Morgan Stanley:


December has been the worst month of the year over the past 25+ years for natural gas prices (last year being a major exception):


At our  Subscriber Summit in Vancouver two weeks ago, Nathan Weiss of Unit Economics made a very bearish case for natural gas. He was of the opinion that gas prices could easily fall into the low $3 range over the coming weeks.

So far he's been right.