Natural gas price awaits the additional momentum – Analysis – 6-2-2023

Natural gas price started to form some sideways trades due to stochastic exit from the oversold areas, to fluctuate near 2.470 without recording any new negative target.

On the other hand, the main stability within the bearish channel and forming additional barrier at 3.500 allow us to wait to gather the additional negative momentum, to manage to continue the negative attack and press on the bearish channel’s support line near 2.100, while breaking it might extend losses towards 1.550 direct, which forms the extension of strong historical support.

The expected trading range for today is between 2.900 and 2.200

The expected trend for today: Bearish