Natural gas prices continue to display negative trading behavior, moving away from the $2.440 resistance level and consolidating near the first negative target of $2.250.
It’s important to note that stochastic indicators are currently consolidating within oversold territories, which may lead to some sideways trading. There is potential for a test of the $2.340 level, followed by an attempt to gain additional negative momentum. This would facilitate a renewed downward movement toward the next primary target at $2.140.
For today, the anticipated trading range is between the support level at $2.140 and the resistance level at $2.340.
Trend Forecast: Bearish
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