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Natural gas prices have faced a setback, dropping below the critical support level of $2.780 and reaching a low of $2.705. This decline signals a potential postponement of the anticipated bullish rally.
The current downturn is attributed to a lack of positive momentum, raising concerns that prices may continue to fall, potentially approaching the $2.670 and $2.610 levels. To regain bullish momentum, prices must surpass the $2.850 mark and maintain that position, which could pave the way for gains beginning at $3.030.
Today’s expected trading range for natural gas is set between $2.610 and $2.780.
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