Natural gas price moves within tight range – Forecast today – 22-4-2024

Natural Gas Price Analysis

Expected Scenario

• Natural gas price has maintained its stability within a tight negative track recently, with continuous fluctuation near the $1.750 level, attempting to gather the required additional negative momentum to activate a negative attack and renew pressure on the historical support at $1.540.
• The chart shows stochastic negative momentum signals that agree with the MA55, crawling towards the $2.000 barrier, confirming the preparation to form new negative waves in the near-term period and target the historical support. Breaking it will push the price to start targeting new negative stations, possibly extending towards $2.220 and $2.090 levels.

Expected Trading Range

Between $1.850 support and $1.540 resistance.