In recent trading sessions, natural gas prices have exhibited a subdued performance, characterized by gradual sideways movements. The market has seen prices hovering around the 2.700 level, showcasing a cautious approach. Additionally, the presence of stochastic negativity, with readings below the 50 level, underscores the current market sentiment.
One pivotal factor to note is the stability of the major support level at 2.4500, which holds significant implications for validating the bullish outlook in forthcoming trading sessions. Market participants are keenly observing the potential resurgence of positive momentum, which, if realized, could propel natural gas prices towards their initial target at 3.100. Furthermore, in the medium-term perspective, the market envisions a target of 3.550.
As traders navigate this landscape, it is essential to consider the expected trading range for today, which is anticipated to fall within the bracket of 2.600 to 3.100.
Anticipated Market Trend for Today: Bullish
