The price of natural gas has recently shown some sideways movement, stabilizing around $2.100. This price action comes amidst a stochastic indicator approaching overbought conditions, which contrasts with the prevailing bearish trend observed on the chart.
Despite the current fluctuations, the bearish outlook remains intact. The $2.150 level is pivotal, serving as a key resistance point. A failure to overcome this barrier will likely reinforce the downward momentum, with potential targets at $1.930 and $1.860.
The expected trading range for today is between $2.150 (resistance) and $2.020 (support).
Trend Forecast: Bearish
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