Natural gas prices have recently experienced a loss of positive momentum as the stochastic indicator dipped below the critical 50 level. This decline has led to the formation of a new sideways fluctuation, with prices stabilizing near the 2.660 level. It’s crucial to highlight that the stability of the 2.400 support line plays a significant role in bolstering the chances of triggering a bullish upswing.
Market observers are advised to remain vigilant for the potential accumulation of positive momentum in the near term. Should this materialize, it could herald the beginning of an upward trajectory, with target levels potentially setting sights on 2.900 and 3.100.
The anticipated trading range for the current session is expected to be within the boundaries of 2.555 and 2.900, with a prevailing bullish trend anticipated for the day.
It’s worth noting that the natural gas market is influenced by multifaceted factors, including supply and demand dynamics, prevailing weather conditions, and geopolitical developments. Staying informed about the latest developments in the energy markets remains crucial for market participants.
