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Natural Gas Price Achieves Target, Continues Bearish Trend – Forecast for July 18, 2024

Natural gas prices recently closed below the critical level of 2.300$, marking the onset of new bearish movements that successfully surpassed the initial target at 2.100$.

The prevailing negative momentum, reinforced by major indicators, suggests an increased likelihood of further declines towards the next support level at 1.950$. Breaking below this support could potentially reignite selling pressure in the short term, with the next significant target set at 1.780$.

Today’s expected trading range is forecasted between 2.120$ and 1.950$.

Trend Forecast: Bearish

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