Current Scenario
Natural gas price remains under significant negative pressure, with the $2.580 level acting as a formidable resistance barrier. Stochastic indicators continue to fluctuate within oversold territory, heightening the likelihood of further declines. Traders are advised to observe a potential test of the extended support level at $2.370 and monitor price behavior closely for indications of the next trend.
Bearish Outlook
A breakout above $2.580 and sustained trading above this level would signal a reversal towards a bullish trajectory, with potential targets at $2.780 and attempts to breach the $2.950 obstacle.
Expected Trading Range
- Support: $2.370
- Resistance: $2.550
Trend Forecast: Bearish
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