Natural Gas Price Analysis
Natural gas prices faced downward pressure recently, driven by stochastic indicators reaching oversold levels. The price slipped below the minor support line of the bullish channel at $2.700, resulting in losses and settling near $2.580.
The sustained stability below the breached support line indicates potential for further downward movement, with targets set towards the MA55 around $2.460. There’s also potential for testing the key support level at $2.385, which will be critical in determining the next major trend.
Expected Trading Range
Market analysis suggests a trading range with resistance at $2.680 and support at $2.470 for the immediate trading sessions.
Trend Forecast: Bearish
The trend forecast maintains a bearish outlook for natural gas prices in the near term.
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