Natural gas prices have confirmed a delay in the anticipated bullish movement, primarily due to the resistance posed by the MA55 moving average at the $2.3400 barrier. Additionally, stochastic indicators are signaling a bearish trend as they approach oversold conditions, placing significant pressure on the 61.8% Fibonacci retracement level at $2.130.
Persisting negative pressures suggest a heightened probability of breaking through current support levels, potentially leading to further declines towards $2.050 and $1.950.
The expected trading range for today is between $1.950 and $2.200.
Trend Forecast: Bearish
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