Natural gas price gains new positive momentum – Analysis – 22-10-2021

Natural gas price succeeded to gather the additional positive momentum due to stochastic approach from 80 level, to move away from the additional support at 4.880 and approach the neckline of the double bottom pattern at 5.205.

Surpassing the current barrier and activating the positive momentum allow us to expect the beginning of targeting new positive levels that might extend towards the moving average 55 at 5.340 followed by reaching the extended resistance at 5.610.

The expected trading range for today is between 5.100 and 5.340

The expected trend for today: Bullish