Natural gas prices have been navigating a complex landscape, influenced by several key indicators that have temporarily stifled the anticipated bullish surge, pushing it into a renewed sideways fluctuation, with a recent consolidation around the 2.550 mark. The overarching bullish sentiment, however, still hinges on the crucial support level at 2.450, which holds the potential to usher in a positive momentum, leading to the formation of bullish waves and ambitious price targets at 2.750 and 3.100.
It is imperative to underscore that a breach of the 2.450 support level, coupled with a negative closing, could swiftly dispel the optimistic outlook. Such a development might indicate a resurgence of bearish sentiment, with initial targets at 1.950 and 1.650.
In today’s trading context, market participants should anticipate a range between 2.500 and 2.750 as the key trading parameters.
The overall outlook for the day leans towards a bullish sentiment, contingent upon the pivotal 2.450 support level holding firm.
