Weighed down by weak shoulder season fundamentals, natural gas futures added to their losses in early trading Monday. After sliding 10.8 cents on Friday, the November Nymex contract was off another 23.4 cents to $6.532/MMBtu as of around 8:40 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

From a technical standpoint, prices held above a “dense cluster of support candidates” from $6.600 down to $6.220 in intraday trading and finished above $6.744 to close out Friday’s session, ICAP Technical Analysis analyst Brian LaRose said.

The bulls face a problem, however, in that they “can not seem to find their footing, and they need to do more than just prevent natural gas from selling off,” LaRose said. “If they can not, a more substantial test of the $6.600-6.220 zone, even a drop to $5.730-5.713-5.689 is...