No change to the negativity of natural gas price – Analysis – 5-8-2022

No change to natural gas price negativity, due to the frequent negative stability below the major resistance at 9.050, while the current sideways fluctuation is caused by the positive momentum coming by the major indicators, which hinders the chances of forming the negative trades and settle near 8.110.

We recommend waiting to gather the negative momentum again to assist to activate the bearish track and expect moving towards 7.600 level, while breaking this obstacle will extend losses towards 7.050 as a main target for the current trades.

The expected trading range for today is between 8.350 and 7.600

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The expected trend for today: Bearish