Natural gas prices exhibited a decline, slipping below the additional support level of 3.250 in the recent trading session. This development suggests a delay in the anticipated bullish move, leading to a corrective downturn that reached 3.120. It’s noteworthy that the stochastic indicator has entered oversold territory, potentially amplifying the negative pressures.
As a result, we anticipate the potential for further downside movements, with potential targets extending towards 2.980 and eventually reaching the critical support level at 2.752.
The projected trading range for today is expected to fluctuate between support at 2.950 and resistance at 3.300.
In summary, the prevailing trend for today is anticipated to be temporarily bearish, with natural gas prices experiencing a correctional decline and a postponement of the earlier bullish outlook.
