The natural gas price trajectory has encountered a hiatus in its upward momentum, ushering in a period of lateral movement as it hovers around the $1.9500 mark. Recent fluctuations have been influenced by prevailing negativity observed in key indicators, notably the stochastic indicator dipping below the 50 mark, accompanied by the presence of the MA55 acting as an additional resistance barrier, positioned at $2.050.
This confluence of factors has engendered a state of ambiguity in the market, with the price attempting to breach the $1.900 threshold amidst the backdrop of the aforementioned negative pressures. Consequently, a neutral stance is warranted for the present, with a preference for vigilance in monitoring price action until a clearer directional signal emerges.
Expected Trading Range: $1.900 – $2.050
Trend Forecast: Neutral