Natural gas price repeats testing the resistance – Analysis – 17-8-2022

Natural gas price faced strong positive pressures yesterday due to stochastic reach to the overbought areas, to notice resuming the correctional bullish attack and test 9.500 resistance.

Note that the stability of 9.050 level and forming additional support might assist to renew the bullish attempts, to increase the chances of breaching the mentioned resistance and manage to settle within the bullish channel again and target new positive stations that start at 9.750 followed by reaching the psychological barrier at 10.000.

The expected trading range for today is between 9.100 and 9.750

The expected trend for today: Bullish