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Natural Gas Prices Poised for Continued Growth

by Daisy

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.

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Expected Trading Range

Support: $2.700

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Resistance: $2.940

Trend Forecast: Bullish

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