The natural gas market has reinforced its bullish trend, with prices surpassing the second positive target of $2.710 yesterday and settling near $2.760. This uptick in prices is further supported by the market holding above the additional support level of $2.520 and the stochastic indicator remaining in the overbought territory.
These positive indicators suggest a renewed bullish momentum, increasing the likelihood of natural gas prices reaching $2.820 initially and potentially challenging the key resistance at $2.940. Breaking through this resistance will be crucial in determining the next major market trend.
Expected Trading Range
Support: $2.700
Resistance: $2.940