Natural gas prices have recently begun to stabilize after reaching a low of $2.460 per unit. This sideways trading pattern follows the commodity’s effort to leverage the 55-day moving average (MA55) as it approaches a significant support level at $2.420. The aim is to mitigate the risks of further declines and additional losses.
In addition, the stochastic indicator’s attempt to exit oversold territory suggests an increased likelihood of gaining positive momentum. This shift could lead to a series of bullish waves, with an initial target set at $2.610. Should prices surpass this level, further upward movement could extend towards key resistance points at $2.680 and $2.740.
For today, the expected trading range for natural gas is projected to be between $2.440 and $2.610.
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