Natural gas price hits key barrier – Analysis – 12-8-2022

Natural gas price correctional bullish trades extended towards 9.005 level, to face key barrier and hinder the bullish rally, noticing its rebound towards 8.640 direct, while in case this barrier continued to consolidate against the price, we expect the beginning of forming negative attack to target many negative stations that might start at 8.450 and 8.110 levels.

On the other hand, succeeding to breach the mentioned barrier and getting positive close above it will cancel the negative overview to open the way to resume the bullish attack and expect to move towards 9.420 direct.

The expected trading range for today is between 9.000 and 8.450

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The expected trend for today: Bearish