Natural Gas price repeats the negative closings – Analysis – 27-3-2019

Despite Natural gas price forming weak sideways trading recently, its frequent stability below 2.970 resistance confirms surrendering to the domination of the bearish bias, while stochastic attempt to provide the negative momentum allows us to expect moving towards the first negative target at 2.510, and breaking this level will increase the chances to reach the key support at 1.520.

Also, note that the stability of the moving average 55 above the current resistance confirms blocking the price within the bearish range, to increase the chances of gathering the additional negative momentum until achieving the mentioned targets.

The expected trading range for today is between 2.885 and 2.510

The expected trend for today: Bearish