Natural Gas seeks the negative momentum – Analysis – 27-4-2017

Natural gas price repeated forming intraday positive waves to be affected by the stability of the initial support at 3.05, besides stochastic rally towards the overbought areas as appears on chart, but the stability below 3.500 resistance allows us to wait to gather the negative momentum again, to repeat the pressure on the initial support followed by 2.750.

Note that attempting to surpass the mentioned resistance will force the price to settle within the bullish channel, to cancel the bearish overview along with the chances of rallying towards 3.950 followed by 4.600 in the upcoming period.

Expected trading range for today is between 3.400 and 3.050

Expected trend for today: Bearish