Natural Gas Price Tests Crucial Barrier

Natural gas price exhibited a corrective bullish wave in the previous session, testing the neckline of the head and shoulders pattern at 3.100. The price currently resides below this level, reaffirming the influence of the prevailing bearish bias. The outlook anticipates a resumption of the bearish trend, targeting key support levels. The initial focus is on reaching the 2.800 support line, and a breach of this level is likely to intensify the bearish momentum.

Today’s projected trading range is poised between 3.100 (resistance) and 2.800 (support).

Today’s Trend Projection: Bearish