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Expected Scenario
The natural gas price has persisted in registering negative closures below the resistance line at $2.930, reaffirming its proximity to the $2.840 level and succumbing to the influence of the previously indicated bearish correction.
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Observing stochastic indicators, there’s an evident attempt to approach oversold territories, indicating an escalation in negative pressures on the price. This further strengthens the likelihood of forthcoming bearish waves, aiming to reach the $2.640 level initially, followed by a potential test of the additional support at $2.520.
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Expected Trading Range
The anticipated trading range is expected to span between $2.900 and $2.640.
Trend Forecast: Bearish
