Natural gas price continues to decline – Analysis – 26-1-2023

Natural gas price formed new negative trades to confirm its surrender to the domination of the bearish bias, taking advantage of the stability of 3.500 level as an additional barrier, noticing its approach to the first additional target at 2.850.

We remind you that the bearish track depends on the consolidation of trades within the bullish channel, in addition to the continuous negative momentum coming by the major indicators, thus, we will keep our bearish overview to expect targeting additional negative stations that might extend towards 2.350 that forms the extension of the bearish channel’s support line.

The expected trading range for today is between 3.300 and 2.350

The expected trend for today: Bearish