Natural gas price surrenders to the indicators’ negativity – Forecast today – 26-3-2024

Natural Gas Price Analysis: Recent Trends and Forecast

The natural gas price has begun to exhibit negative tendencies, succumbing to the influence of major indicators that are driving negative momentum. This has led to a gradual decline towards the $1.605 level, edging closer to the historical support at $1.540.

It's important to note the persistent fluctuation below the initial barrier at $1.810, coupled with mounting negative pressures. This situation threatens the stability of the historical support, and a break below it would signify a resumption of the negative trend, potentially resulting in further losses. Targets in this scenario include a move towards $1.250, followed by reaching the psychological support at $1.000.

Trading Range Projection

• Upper Bound: $1.750
• Lower Bound: $1.540

Trend Forecast

Bearish