Natural gas faces strong negative pressures – Analysis – 18-7-2018

Natural gas price touched 2.750 level recently, which forms 50% Fibonacci correction level, while the continuous negative pressures that comes by the stability of the moving average 55 above the current price besides stochastic attempt to crawl towards the oversold areas confirms the preparation to resume the bearish attack, to expect moving towards 2.660 followed by extend trading towards the key support at 2.550.

Expected trading range for today is between 2.785 and 2.660

Expected trend for today: Bearish