Natural Gas Price Analysis: Bullish Trend Expected

by Daisy

Natural gas prices have recently established a minor bullish channel, finding significant support at $2.775 and showing bullish momentum to settle around $2.930. The consolidation of the MA55 near this support level enhances the probability of a new bullish rally, aiming for targets at $3.150 and subsequently reaching a major barrier at $3.500.

Additionally, the stochastic indicator’s stability in the overbought region supports the bullish trend, suggesting further advancement toward the anticipated positive targets.


Expected Trading Range

Lower bound: $2.880


Upper bound: $3.150

Trend Forecast: Bullish

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