Natural gas price consolidates below the resistance – Analysis – 4-8-2022
Economies.com
2022-08-04 05:55AM UTC
Natural gas price failed to crawl below 50% Fibonacci correction level that forms additional support at 7.600, to force it to postpone the negative attack and cover some losses by rallying towards 8.450.
In general, the negative stability below 9.050 resistance forms the main factor to reinforce the domination of the bearish bias for the upcoming trading, thus, we will keep waiting to gather the negative momentum to assist to renew the pressure on the mentioned support, while breaking it will extend trades towards 7.330 and 7.050 levels.
The expected trading range for today is between 8.650 and 7.550
The expected trend for today: Bearish
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