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Natural gas prices have confirmed their continued decline, staying below the $2.780 mark. The price has moved towards the 55-day moving average (MA55) at $2.470, hitting the first anticipated target as mentioned in our previous report.
The Stochastic oscillator’s persistent fluctuation in the oversold zone suggests increasing negative pressure. This could lead to new bearish waves, potentially testing the $2.370 support level. Observing the price action around this support will provide insights into future movements.
Expected Trading Range
Natural gas prices are anticipated to trade between $2.550 and $2.370.
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