Natural Gas Price Analysis
Expected Scenario
The price of natural gas began today by forming a bearish gap, settling below the crucial $2.860 support line. This development suggests the possibility of continued negative momentum, with the potential to move towards $2.740 and $2.550. The persistence below the broken support line is a key indicator of this bearish trend.
To regain a bullish outlook, natural gas would need a robust rally to surpass the $2.950 level, which could then pave the way towards positive targets near $3.200 and $3.500.
Expected Trading Range
- Upper Boundary: $2.880
- Lower Boundary: $2.740
Trend Forecast: Bearish
In summary, the natural gas market appears to be leaning towards a bearish trend, with significant support levels at $2.740 and $2.550. Traders should monitor these levels closely and be prepared for potential rebounds if the price can break above the $2.950 resistance.
