In the early hours of today’s trading session, the natural gas price exhibited an opening gap to the downside, with a descent towards the 3.375 level. This bearish movement can be attributed to the intraday negative sentiment of the stochastic indicator, which is currently hovering near the 50 level.
In the short term, the price is likely to witness additional downward fluctuations as it aims to test the key support level at 3.100. These corrective moves are essential for the market to gather the necessary positive momentum, paving the way for an upcoming bullish rally. Once these corrections are complete, we can anticipate the natural gas price to stage a reversal and begin forming bullish waves, with the aim of surmounting the 3.550 resistance barrier. This breakthrough will serve as confirmation of the market’s readiness to embark on a fresh upward trajectory, with the potential for recording significant gains in the near future.
Today’s projected trading range is anticipated to oscillate between 3.200 and 3.550.
Current Market Trend Outlook: Bullish
