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Natural gas price resumes the decline – Forecast today – 29-1-2025
Natural gas price faced new negative pressures yesterday to crawl below 50% Fibonacci correction level at 3.130$, hinting its preparation to resume the negative attack by settling at 3.080$.
Also, the MA55 forms additional barrier by settling near 3.260$ to increase the negative pressures and allow us to suggest declining towards 2.970$ followed by reaching the next support at 2.840$.
The expected trading range for today is between 2.970$ and 3.200$
Trend forecast: Bearish
The EURJPY repeats the sideways fluctuation – Forecast today – 29-1-2025
The EURJPY pair still affected by the domination of the sideways bias by fluctuating within the sideways track represented by 161.60 support and 163.25 resistance.
Note that stochastic continuous negative momentum might push the price to attack the current support, while breaking it will push the price to form new negative trades to target 160.90 and 160.20 levels.
The expected trading range for today is between 161.65 and 163,25
Trend forecast: Neutral
The GBPJPY consolidates below the resistance – Forecast today – 29-1-2025
No news for the GBPJPY pair despite the frequent stability above 191.80 support line, to notice its surrender to the stability of 194.30 resistance line in addition to stochastic negative momentum signals.
These factors confirm the price affection by the domination of the sideways bias, to provide mixed trades until breaching the resistance to manage to achieve additional gains by rallying towards 194.80 and 195.55 levels.
The expected trading range for today is between 192.80 and 194.30
Trend forecast: Bullish
Platinum price repeats the negative closings – Forecast today – 29-1-2025
Platinum price repeated the negative closings below 955.00$ barrier, hinting its surrender to the continuous domination of the correctional bearish bias by consolidating near 940.00$.
Also, stochastic continuous negative momentum assists to provide more negative trades until reaching the additional support at 920.00$, while breaching the barrier and holding above it will push the price back to the bullish track to expect achieving many gains by rallying towards 972.00$ followed by reaching 983.00$.
The expected trading range for today is between 920.00$ and 955.00$
Trend forecast: Bearish