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Natural gas prices have reached the first additional bearish target at $2.020, encountering resistance that has hindered further decline. Despite this, stochastic indicators show a rally above the 50 level, leading to a temporary rebound towards $2.080.
This positive rebound is not expected to alter the overall bearish trajectory, as prices remain within a bearish channel. The $2.150 level serves as an additional barrier. The forecast continues to anticipate a reaccumulation of negative momentum, with the potential to target further declines at $1.950 and $1.860.
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Today’s trading range is projected between support at $1.950 and resistance at $2.100.
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Trend Forecast: Bearish
