Natural gas price moves slowly – Forecast today – 2-5-2024

Expected Scenarios

1. Natural gas price continued to provide slow sideways trades, affected by the continuous contradiction between the major indicators’ negativity, with the attempts to hold above the additional support at 1.900$, expecting to witness instability until gathering the positive momentum and manage to jump above the MA55 at 2.060$ followed by attacking the minor bullish channel’s resistance line at 2.180$.
2. Note that crawling below the current support will force the price to form additional negative trades, to suffer more losses until testing the major support at 1.730$.

Trading Range

Expected trading range for today is between 1.900$ and 2.050$

Trend Forecast

Bullish