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Natural gas prices have demonstrated consistent, albeit gradual, upward momentum, hovering around the $2.900 mark. This move has been accompanied by attempts by the stochastic indicator to move out of overbought territory.
In our assessment, we maintain a bullish outlook, contingent upon the stability of the key support level at $2.450. Additionally, we observe the moving average 55 working to establish a fresh support at $2.700. These factors combined lead us to anticipate further gains, with a potential breakthrough of the $3.100 barrier, setting the stage for a broader target of $3.550.
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Today’s projected trading range is expected to fluctuate between $2.720 and $3.100.
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Anticipated Market Trend for Today: Bullish
