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Despite the absence of positive momentum in natural gas prices, the market continues to consolidate above the crucial support line of $2.230 and the 55-day moving average (MA55), reinforcing a previously identified bullish trend.
While sideways trading may persist in the short term, this phase is anticipated to be temporary as the market seeks to regain positive momentum. A successful breach of the $2.420 resistance level is critical, paving the way for a potential rally toward the next target of $2.550.
Today’s expected trading range is between $2.300 and $2.550.
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