Natural gas extended its decline Friday, breaching key support levels and confirming bearish momentum, with Fibonacci retracements and chart patterns signaling risk of deeper downside ahead.

Day average this week, but resistance at $3.19 looms. A breakout above that swing high could ignite a move toward $3.45.

Joey Fundora has 17+ years of experience as an independent stock trader, specializing in discretionary swing trading through technical analysis. Tatiana Meteleva / Getty Images In order to ...