Natural Gas without any news – Analysis – 28-3-2017

Natural gas price repeated weak sideways trading affected by the stability of 38.2% Fibonacci correction level as an initial support level at 3.05, while 3.150 level forms an extension of the broken bullish channel’s support, the bearish scenario depends on the stability of the initial support, to open the way towards the initial negative target at 2.700, while surpassing 3.150 level will force it to reach 3.300, to regain its bullish bias by its stability within the bullish channel levels.

Which makes us stay aside again until surpassing the dominant levels then detect the true targets.

Expected trading range for today is between 3.300 and 2.700

Expected trend for today: neutral.