Natural gas prices have reaffirmed their strong bullish stance, as the stochastic indicator showed a decline below the 50 level. This shift has been accompanied by a new positive close above the initial support level at 3.100, resulting in a temporary sideways pattern near 3.500.
Anticipated Price Movement:
With the prevailing positive sentiment, we anticipate that this momentum will continue to build, fostering a new upward trend. The initial target lies at the 3.750 level, with subsequent aspirations to breach the 3.900 barrier. This bullish trajectory is expected to be sustained in the days ahead.
Projected Trading Range for Today:
For today’s trading activity, we anticipate the price range to oscillate between the support level of 3.400 and the resistance level of 3.700.
Today’s Market Trend:
The prevailing market trend is decidedly bullish, with the expectation of further gains in the near term.
