The natural gas price continues its upward trend, showing positive closes above the historical support level at 1.540. This reinforces the likelihood of triggering the anticipated bullish correctional movement. Stochastic indicators are approaching the 80 level, indicating potential momentum for further upward movement.
The next target for the bullish trajectory is expected to be the 1.810 level, with a subsequent aim to reach the 2.000 barrier directly. This represents the primary target for the ongoing bullish trend.
However, it’s crucial to note that any attempt by the price to break below the mentioned support level would invalidate the positive outlook. In such a scenario, we could anticipate the formation of strong negative waves, potentially leading to significant losses. Key support levels to watch in this scenario include 1.350 and 1.220.
Expected Trading Range for Today: 1.650 – 1.900
Trend Forecast: Bullish
