Natural gas price continues the sideways fluctuation – Analysis – 31-5-2023

Natural gas price repeated forming weak sideways trades until this moment, attempting to face the negative pressures caused by the main stability below the bearish channel’s resistance at 2.900, in addition to getting positive momentum by the major indicators, taking advantage of the stability of the additional support at 1.950.

Note that stochastic reach to the oversold areas might decrease the negative pressures, to provide chances to gain the positive momentum and allow the price to renew the correctional bullish attempts that might target the bearish channel’s resistance followed by monitoring the price behavior to manage to confirm the next main trend.

The expected trading range for today is between 2.250 and 2.800

The expected trend for today: Bullish