Natural gas price forms temporary sideways fluctuation – Analysis – 7-2-2023

Natural gas price formed temporary sideways trades to keep its stability near 2.500 level without recording any new negative target, affected by stochastic exit from the oversold areas.

We expect to form mixed trades, while the frequent stability within the bearish channel and forming continuous barrier at 3.500 allow us to wait to gather the additional negative momentum to ease the mission of resuming the decline and reach the next negative target at 2.100.

The expected trading range for today is between 2.900 and 2.200

The expected trend for today: Bearish