Natural gas price repeats the sideways fluctuation – Analysis – 8-6-2023

Natural gas price didn’t succeed to exit the sideways bias, to continue fluctuating between 2.700 resistance and the additional support at 1.950, also, the contradiction between the major indicators allows us to continue with our neutrality and wait to surpass of the mentioned levels to manage to detect the next targets.

We remind you that succeeding to decline below 1.950 will open the way to target new negative stations that might start at 1.480, while breaching the resistance will confirm moving to the bullish track, to start forming strong bullish waves that might push it to reach 3.100 and 3.500 levels.

The expected trading range for today is between 2.100 and 2.500

The expected trend for today: Neutral