Natural Gas Price Analysis: Bearish Sentiment Prevails Amid Resistance

by Yuki

Natural gas prices recently tested a significant resistance line on the chart, experiencing a bearish rebound from this level. This movement reinforces the continuation of the bearish trend in the near term, supported by downward pressure from the EMA50 indicator. The market awaits a decisive break below the $2.225 mark to confirm further downside potential, targeting the next support around $2.100.

Conversely, a breach above $2.580 would invalidate the current bearish outlook, signaling potential for price recovery. Initial bullish targets would then focus on testing resistance near $2.582.

Today’s anticipated trading range is expected to fluctuate between $2.200 and $2.400, reflecting ongoing market volatility and directional uncertainty.

Related topics:

Natural Gas Prices Approach Key Resistance

Natural Gas Price Outlook: Bearish Momentum Continues

Washington’s High Gas Prices Persist Despite National Trend

You may also like

Welcome to our Crude Oil Portal! We’re your premier destination for all things related to the crude oil industry. Dive into a wealth of information, analysis, and insights to stay informed about market trends, price fluctuations, and geopolitical developments. Whether you’re a seasoned trader, industry professional, or curious observer, our platform is your go-to resource for navigating the dynamic world of crude oil.

Copyright © 2024 Petbebe.com