The natural gas price has yet to demonstrate a significant upswing, and it appears to be struggling to overcome the corrective bearish tendencies, with its proximity to the MA55 acting as an additional support around the 2.850 mark.
It is worth noting that the bullish scenario remains in play, as long as the 2.660 level serves as a significant support extension. Moreover, the stochastic indicator has ventured into the oversold territory, suggesting the alleviation of downward pressures. This situation implies that we should remain patient for the positive momentum to gather strength, followed by the initiation of upward movements aiming at target levels around 3.250 and 3.550.
For today’s expected trading range, we anticipate it to fluctuate between 2.920 and 3.250, with an overall bullish trend projected.
Please note that all trading and investment decisions should be made with due consideration of the current market conditions and a thorough understanding of the risks involved.
