Natural gas prices exhibited limited movement yesterday, trading sideways within a narrow range. Prices oscillated between the minor bearish channel’s resistance level of $2.230 and the 55-day moving average (MA55), which bolsters the additional support level at $2.140.
Market observers are advised to adopt a neutral stance until prices break through either of these key levels. A sustained move above the resistance at $2.230 could signal the formation of a bullish trend, with potential targets of $2.350 and subsequently $2.440. Conversely, a decline below the support level at $2.140 could steer prices towards a bearish trend, potentially reaching an initial target of $1.950.
For today, the anticipated trading range for natural gas is between $2.230 and $2.140
Related topic:
Who Sets the Price of Natural Gas?
