Natural gas prices continue to face a corrective bearish trajectory, influenced by stochastic consolidation within oversold territories, prompting a consolidation phase near the 3.100 level. The possibility of a resumption in the downward movement remains, with expectations of a test of the 2.940 support level. A breach of this support could potentially lead to extended losses, targeting the 2.820 threshold and bringing into focus the MA55 indicator.
Conversely, a robust bullish rally and the ability to breach the 3.550 resistance level would confirm a return to the bullish bias. This shift could usher in a series of positive milestones, with notable resistance levels near 3.950 and 4.250.
For today’s trading activity, the expected range is situated between 3.240 and 2.940. The prevailing trend in the short term is anticipated to be bearish, albeit temporarily.
