The NG future is trading today aroun 3.16 just at 4% from a big support in area 3.05 that is my fair value for this bearish cycle.
By the way, the next contract is trading 0.40 USD more... so I always need to calculate prudentially new bearish targets that are so 0.40 USD proportionally less of the 3.05 supports.
I alway get a support of UNG in area 11.90 (so will be hard to break this level of support) and in case of new lows I see an read of 10.40/10.50 USD as potential target for this bearish movement, if 11.90 will fail to support.
So my previous target of 11.05 is not up to date anymore due to evolution of spread betwen the next 2 NG future contracts.
So, key support level 11.90 area (double/triple bottom), and then 10.50 as bargain area where aggressively build some strategy with shares or anticipating now selling puts.
I will update you at the end of day with precises levels at the cent.