Natural Gas declines below the support – Analysis – 17-2-2017
Economies.com
2017-02-17 08:39AM UTC
Natural gas price provided new negative attack yesterday to settle below 2.880 support, affected by the bearish bias domination again, thus, the current expectations will be negative and we are waiting to target 50% Fibonacci level around 2.700 on the near term and medium term basis.
3.000 level is forming additional barrier against the negative attempts, to support the negative overview, besides stochastic attempt to settle within the oversold areas that will increase the negative pressure on the price until reaching our target.
Expected trading range for today is between 3.000 and 2.700
Expected trend for today: Bearish
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