Gas price crawls negatively – Analysis – 25-4-2019

Gas price kept its negative stability by providing repeated closes below the resistance at 2.960, to crawl negatively and achieve 2.500 level, we expect forming a new negative trading in the near period, to target 2.225 level, and breaking this barrier will make it succeed to reach the main target at 1.605.

By the above image, we notice the stability of the moving average 55 near the main resistance, to confirm the price confinement within the negative range, stochastic reach to the oversold level increases the chances for gaining the negative momentum until achieving the suggested targets.

The expected trading range for today is between 2.700 and 2.225

The expected trend for today: Bearish