Natural gas price approaches the support – Analysis – 10-3-2021

Natural gas price continued to form correctional bearish waves by facing continuous negative pressures caused by stochastic approach to 20 level, to fluctuate near the minor bullish channel’s support line at 2.550.

The upcoming scenario depends on the strength of this support, to expect the beginning of forming bullish waves as long as this support remains intact, to expect moving towards 2.950 followed by 3.190 level, while facing negative pressures and crawling below the current support will confirm moving into the bearish track, to expect suffering big losses by moving towards 2.281 initially.

The expected trading range for today is between 2.550 and 2.900

The expected trend for today: Bullish