Natural Gas Price Fluctuates Below Resistance – Forecast for Today (06-12-2024)

by Jennifer

Natural gas prices recently paused their bullish rally after approaching the key resistance level at $2.185, leading to a correction as the price moved downward towards $3.050.

The chart indicates that the stochastic oscillator is attempting to provide positive momentum, suggesting that bullish pressure could resume. If this momentum continues, the price may test the resistance again and potentially target new higher levels, with the first objectives at $3.220 and $3.350.

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The expected trading range for today is between support at $2.980 and resistance at $3.190.

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Trend Forecast: Bullish

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