In recent trading sessions, natural gas prices have maintained a strong upward momentum, supported by consistent consolidation above the MA55 moving average. This resilience underscores the market’s bullish sentiment, with focus now shifting towards breaching the critical $2.530 resistance level.
Analysts point to ongoing positive pressures driving the price towards the pivotal $2.530 mark, signaling potential bullish attempts in the near term. The successful breach of this resistance level is seen as crucial in confirming the continuation of the upward trend.
However, market dynamics suggest potential risks of a trend reversal if the price dips below the $2.350 support level. Such a scenario could trigger bearish sentiments, potentially leading to further declines towards support zones at $2.220 and $2.120.
Expected Trading Range: $2.450 Support – $2.610 Resistance
Looking ahead, traders anticipate a trading range between the $2.450 support and the $2.610 resistance levels. This range reflects the current volatility and the key levels that traders are closely monitoring for future price movements.
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