Natural gas prices have exhibited notable resilience, benefitting from the ongoing stability in the stochastic indicator, even as it hovers within the overbought range. This steadiness has led to recurring fluctuations near the critical 3.550 level, which acts as a short-term obstacle for bullish movements.
The presence of the moving average’s fluctuations below the additional support level at 3.100 serves as an important confirmation that the market remains confined within the overarching bullish trajectory. This further bolsters the likelihood of overcoming the noted resistance at 3.550, paving the way for potential upward movements toward subsequent key milestones at 3.750 and 3.950.
Today’s anticipated trading range is expected to fluctuate between 3.270 and 3.750, and the prevailing trend for the day remains bullish.
