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Natural gas prices have recently exceeded the 55-day moving average (MA55), reaching an initial target of $2.340. This price point represents a 50% Fibonacci retracement level, as indicated on the chart.
The stochastic indicator, approaching the 80 level, suggests an increased likelihood of gaining the necessary positive momentum to surpass the $2.340 mark. This could pave the way for further gains, potentially driving prices up to $2.450 and $2.530.
For today, the anticipated trading range is between $2.220 and $2.450.
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