The natural gas price has successfully reached its primary target at 1.560 and is currently positioned near key historical support. Given the significance of this support line in determining the main trend, a neutral stance is recommended. Waiting for the next close is crucial to confirming the trend and identifying potential future targets.
A decline below the current support, accompanied by a negative close, would prompt a resumption of the decline, potentially leading to new losses. In this scenario, the price might extend towards 1.250, followed by reaching the psychological support line at 1.000. Conversely, maintaining support above the current level would activate the correctional bullish track, with an expected rally towards 1.760 and a subsequent target at the resistance line of 2.000.
The projected trading range for today is expected to fall between 1.650 (resistance) and 1.530 (support).
Expected Trend for Today: Neutral
