Natural gas returns to the bullish track – Analysis – 10-8-2018

Natural gas price gained strong positive momentum recently to form bullish rally to surpass 2.910 level and settles within the main bullish channel again, which allows us to start suggesting the positive attempts conditioned by the price stability above 2.910 level, forming the main support line, to target 3.050 level as a main station.

The stability of the moving average 55 below the mentioned support confirms blocking the price within the bullish channel, to agree with stochastic positivity by consolidating within the overbought areas and increase the chances of gathering the positive momentum.

Expected trading range for today is between 2.910 and 3.050

Expected trend for today: Bullish