Scenario 1: Attempted Breakout
In recent trading sessions, the price of natural gas made an attempt to surpass the significant resistance level at $2.200. However, this endeavor proved unsuccessful in maintaining momentum.
Stability has been observed in the vicinity of the $2.180 mark, a phenomenon attributed to conflicting signals from major indicators.
Scenario 2: Wait for Confirmation
Traders are advised to exercise patience and await confirmation of a successful breach above the $2.200 threshold, coupled with the ability to sustain this level.
Confirmation of breaching and holding above $2.200 would bolster the likelihood of a bullish trajectory, potentially paving the way for substantial gains, with key resistance levels projected at $2.280 and $2.350.
Trading Range
For today’s trading session, the anticipated price range is between $2.122 and $2.200.
Trend Forecast
The trend forecast for natural gas prices suggests a sideways movement in the near term, as indicated by the prevailing market conditions and price action.
