The natural gas market remains under bearish pressure, with prices targeting further declines. Currently, the price is aiming to reach its initial extended target at $2.300. A continuation of this downward trend could see prices testing $2.225 and potentially $2.100 as subsequent negative targets.
The bearish sentiment is reinforced by the presence of the 55-period moving average (MA55), which is exerting downward pressure on prices. Key to sustaining this bearish outlook is the price’s ability to consolidate below $2.580. Breaching this level, however, might prompt recovery attempts, with potential targets near $2.830 in the near term.
Expected Trading Range
Today’s anticipated trading range spans between $2.250 and $2.420, reflecting ongoing volatility and market dynamics.
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