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Natural gas prices have maintained stability above the 55-day moving average, setting the stage for a potential upward surge. The market is currently testing the 50% Fibonacci retracement level at $2.340, a crucial point that could signal the start of a bullish rally.
Recent stochastic indicators suggest a buildup of positive momentum, which may facilitate a breakthrough of the current resistance. If successful, this could pave the way for prices to target higher levels, with key resistance points at $2.450 and $2.530.
For today, the anticipated trading range for natural gas is between $2.300 and $2.450.
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Why Does Natural Gas Have an Odor?
