Natural gas prices rose to $2.720 yesterday, managing to settle above this mark. This movement indicates a reduced likelihood of a continued bearish correction, as suggested by stochastic indicators attempting to move out of oversold territory, as reflected in the chart.
Market analysts anticipate a period of sideways trading. Importantly, the stability above the $2.680 level, which now serves as an additional support line, may facilitate a renewed bullish trend. This could lead prices to challenge the $2.840 barrier once more. Should prices surpass this level, there is potential for a rise towards the near-term high of $3.030.
The expected trading range for today is projected to be between $2.680 and $2.830.
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