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Natural gas prices saw a positive trend yesterday, rising above the MA55 indicator to reach $2.190. However, the market is now forming sideways trades, reflecting a temporary positive movement countered by ongoing stability below the bearish channel resistance at $2.325.
Stochastic indicators suggest a potential exit from overbought conditions, hinting at a possible shift towards negative momentum. This could lead to a continuation of the bearish trend, with targets set at $2.050, followed by a test of the $1.950 level.
The anticipated trading range for today is between $2.200 and $2.050.
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