The natural gas price continues to exhibit a sideways bias, influenced by conflicting signals between the negative MA55 trend, which remains above the current price, and the positive momentum indicated by the stochastic oscillator. This contradiction reduces the likelihood of a significant move towards testing the historical support level at 1.540.
The current sideways movement is expected to persist until the price manages to breach the resistance level at 1.810. A successful breach of this level would facilitate the formation of new bullish waves, potentially renewing upward pressure towards the key psychological barrier at 2.000. Breaking through this barrier is crucial to shifting the momentum towards a bullish trajectory in the near future.
Expected Trading Range for Today: 1.650 to 1.810
Trend Forecast: Bullish
