NATURAL GAS - WEEKLY CONTINUATION CHART: A typical 3-wave downmove in 2010 eventually found dual support from near the 3.155 May-09 low and 76.4% pullback.

If recovery continues note possible resistance from the 76.4% 5.425 retracement (see how this ties in with the Daily chart).

Further out we would target the 38.2% recovery level at 6.720 plus equality target just above at 6.910.

NATURAL GAS - DAILY CHART FEB-11:

After the Oct-10 low initial resistance has emerged from a 38.2% recovery level and bear channel top projection. This is again under pressure and a break through would be a clear bull signal.

The initial target would be the 61.8%/76.4% area - note how the 76.4% level (although a different calculation) coincides nicely with a 76.4% on the Weekly chart, and s/term difficulty getting through here seems likely.