Natural gas price postpones the decline – Analysis – 11-8-2022

Natural gas price failed to break the additional support at 7.600, to form an obstacle against the negative attempts, which interprets the current correctional bullish rally and touch 8.300.

On the other hand, the continuous fluctuation above 8.110 will increase the chances of resuming the correctional bullish attack to expect moving towards 8.600 followed by reaching 8.900, while crawling below 8.110 and getting negative close will form new factor to confirm the bearish track and manage to renew the pressure on the mentioned support in order to find a way to resume the decline in the upcoming period.

The expected trading range for today is between 8.600 and 8.100

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The expected trend for today: Bearish