In recent developments, the natural gas price has exhibited a resurgence of bullish sentiment, notably surmounting the additional support level at $2.200 and propelling upwards to establish a new bullish wave, nearing the initial additional target at $2.420.
Technical indicators, particularly the Stochastic oscillator, have shown signs of upward momentum as it approaches overbought territories. This uptick in momentum is expected to bolster the ongoing bullish trajectory, reaffirming our optimistic outlook on the market. Analysts anticipate that this bullish momentum may lead the price towards the next significant resistance level at $2.520 in the near term.
As we assess the expected trading range, market experts suggest a range bound between $2.330 and $2.520, indicative of the prevailing bullish sentiment and potential upward movement within this range.
In conclusion, the trend forecast for natural gas remains decidedly bullish, with market participants closely monitoring price movements as they anticipate a potential breach of the $2.520 barrier in the coming sessions.
