Natural Gas price suffers big losses – Analysis – 22-2-2017

Natural gas price affected by strong negative pressures yesterday to suffer big losses and to settle at 2.600 level, surpassing 50 % Fibonacci correction level at 2.700, which makes us prefer more of the negative attempts, to expect targeting 2.4300 level, and breaking it will force it to record new negative targets that begin at 2.150.

Stochastic stability within the oversold level provides new negative momentum, which assists the price to attempt to reach the suggested negative targets.

Expected trading range for today is between 2.7000 and 2.4300

Expected trend for today: bearish.