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Natural gas prices continued their downward consolidation, remaining below the minor bearish channel’s resistance level of $2.260. Recently, prices have formed a negative wave and settled around $2.170.
For the bearish trend to persist, prices must fall below the $2.137 level, which would increase the likelihood of targeting further declines toward $2.070 and $1.950. Conversely, if prices break above the resistance and close positively, the negative outlook would be negated, potentially leading to a bullish rally targeting $2.350 and $2.440.
Today’s anticipated trading range is between $2.250 and $2.070.
Related topic:
Natural Gas Vs. Coal: Which Is Cleaner?
