Natural gas prices have rebounded from recent lows, touching $2.000 before rising to the initial resistance level of $2.150. This upward movement follows a period of negative momentum, driven by a stochastic rally that has pushed prices into the overbought territory.
Despite this short-term rally, the broader bearish trend remains intact. The key resistance level at $2.350 continues to play a significant role in maintaining the downward trajectory. Traders are closely watching for further negative momentum that could support a decline towards $2.050. If the bearish trend persists, prices may test new lows, potentially falling to $1.950 and $1.860.
For today, the anticipated trading range for natural gas is between $2.180 and $2.050.
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