Expected Scenario
Natural gas prices have exhibited mixed trading patterns, stabilizing near $2.650 without hitting any new positive targets. The $2.890 resistance level has been a significant barrier, preventing a shift back to a bullish trend.
However, the consistent stability above the $2.510 support level, combined with positive momentum from major indicators, supports a continued bullish outlook. If the price breaches the $2.890 resistance, it could pave the way for additional gains, potentially reaching $3.220 in the short term and extending to $3.500 over the medium term.
Expected Trading Range
Support: $2.550
Resistance: $2.890
Trend Forecast: Bullish
In summary, while the $2.890 resistance remains a critical barrier, the underlying support and positive momentum suggest a bullish trend for natural gas prices, with potential for significant gains if the resistance is breached.
