In the realm of natural gas trading, recent movements indicate a persistent bullish trajectory, marked by a notable uptick in prices closing above the support level at $2.520. This upward trend is underscored by the emergence of additional bullish waves, with the market poised to reach the coveted target of $2.850.
The ongoing stochastic fluctuation within the overbought territory further reinforces the likelihood of continued bullish endeavors, with a potential trajectory towards testing the pivotal resistance level at $2.940. This milestone represents the primary target in the current trading landscape, with keen observation warranted to gauge the ensuing market direction.
Expected Trading Range: The anticipated trading range remains confined between the support level at $2.720 and the resistance at $2.940, delineating the boundaries within which market movements are expected to unfold.
Trend Forecast: Despite prevailing bullish sentiments, a cautious outlook prevails as the trend forecast leans towards a bearish trajectory. This assessment underscores the importance of diligent monitoring and strategic positioning amidst evolving market dynamics.
