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Natural gas prices have recently encountered several bearish waves, bringing the market closer to a critical support level of $2.960. This support has now become a strong barrier against the recent downward pressure, with prices bouncing back at $3.210.
The current market conditions show a contradiction between the key indicators, which could lead to mixed, sideways trading in the short term. However, if prices maintain stability above this additional support level, there is a higher likelihood of a bullish reversal. This could trigger a rally towards $3.360, with a potential further climb towards the resistance level near $3.580.
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Expected Trading Range for Today: $3.100 to $3.360
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Trend Forecast: Bullish
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