Natural gas prices provided a new positive close above $3.050 level, forming the neckline of the head and shoulders pattern that appears in the above image, taking advantage of stochastic exit from the oversold level and providing positive momentum again.

The price success to settle above $3.050 will decrease the risk of moving to a new bearish station, providing chances to begin recording some of the gains by its rally to $3.320 and $3.450, while breaking the neckline and holding below it will force it to suffer big losses by reaching $2.710 initially.

The expected trading range for today is between $3.10 and 3.320

Trend forecast: Bullish by the stability of $3.050

The EURJPY pair resumed forming bearish correctional trading, to settle near the initial target at 171.15 level, note that the continuation of providing negative momentum by stochastic and forming a new barrier at 172.30 level against the current trading, which makes us prefer more of the negative attempts that might target the extra support near 170.45.

Note that breaking the targeted extra support will increase the efficiency of the bearish correctional track, forcing the price to suffer extra losses by reaching 169.75 and 169.20.

The expected trading range for today is between 170.45 and 172.00

Trend forecast: Bearish

The GBPJPY pair provided new bearish close by its stability below the broken bullish channel’s support, forming a new resistance at 198.45 to increase the chances for the dominance of the suggested bearish bias by its fluctuation near 197.75.

The continuation of providing negative momentum by stochastic supports the negative suggestion, to keep waiting for targeting 197.50 level, where breaking it will open the way for suffering extra losses that might extend to 196.55 and 195.75, while regaining the bullish bias requires forming a strong positive rally to settle above 198.80.

The expected trading range for today is between 196.55 and 198.30

Trend forecast: Bearish

Despite Platinum price’s weak trading, it remains stable positively above the extra support at $1375.00 reinforces the chances of renewing the bullish attempts that might target the barrier at $1420.00 initially and surpassing it will extend the trading towards $1458.00 reaching the next main target at $1507.00.

While breaking the current support and providing negative closes below it to confirm its move to the bearish correctional track, to resume the attempts of gathering the gains by reaching $1350.00 and $1332,00.

The expected trading range for today is between $1380.00 and $1420.00

Trend forecast: Bullish