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Natural gas prices demonstrated a strong bullish trend, surpassing significant technical levels yesterday. The price rallied above the 55-day moving average (MA55) to $2.305, breaking through the 50% Fibonacci retracement level at $2.340 and settling above this mark.
The stochastic indicator’s movement towards overbought territory suggests that the bullish momentum may continue. Analysts expect the price to target $2.450 in the near term, with a potential push towards $2.530 if the $2.450 level is exceeded.
For today, the anticipated trading range for natural gas is between $2.300 and $2.450.
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Who to Call When You Smell Natural Gas?
