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Natural gas prices continued their consolidation within a bearish channel, influenced by the resistance of the MA55 at $2.340. This resistance prompted a downward momentum, leading prices to settle near $2.190.
Stochastic indicators indicate a potential move towards oversold conditions, which could amplify downward pressure on prices. Analysts foresee a probable test of the $2.140 support level in the near term, with a break below suggesting further declines towards $2.070 and potentially $1.950.
Today’s expected trading range is projected between $2.280 and $2.140, highlighting ongoing volatility in the natural gas market.
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