Natural gas price repeats the negative attempts – Analysis – 25-1-2023

Natural gas price provided new negative close yesterday below 3.500, to notice forming new bearish wave and approach the first additional target at 3.150, also, stochastic attempt to provide the negative momentum will increase the chances of renewing the negative attack, to expect crawling towards 2.600 as a next target.

Note that the attempt to rally above 3.500 additional barrier will confirm surrendering to the domination of the correctional bullish bias again, to push it to form bullish waves and target 3.950 followed by reaching 23.6% Fibonacci correction level at 4.400.

The expected trading range for today is between 3.550 and 2.850

The expected trend for today: Bearish