The pair’s price has confirmed its submission to negative pressure by closing below the resistance level at 192.65 once again, forming several bearish waves recently and settling around 190.10.
We note that the Stochastic indicator’s attempt to move into oversold territory could increase the chances of the price gathering additional negative momentum, making it easier to renew pressure on the barrier at 189.20. A successful break below this level would confirm a new bearish phase, with the price beginning to target further downside levels, initially moving toward 188.35.
The expected trading range for today is between 189.20 and 190.80
Trend forecast: Bearish
Thanks for your feedback.
Despite the lack of positive momentum and the recent sideways trading around $3.050, natural gas price continues to hold above the pivotal support level at $2.620. This repeated stability represents a key factor in confirming the dominance of the bullish trend in upcoming trading.
MoreDespite the pair’s price repeatedly holding above the support level at 174.90, the prevailing negative factors, including the continued formation of additional resistance at 177.80 and the main indicators providing negative momentum, increase the chances of renewed bearish attempts, with the price currently trading around 175.60.
MoreThe pair’s price has maintained its bearish trajectory in recent trading, moving away from the resistance level at 212.00 under the influence of negative signals from the main indicators. The continued formation of an additional barrier at 210.50 has prompted further bearish waves, with the price currently stabilizing around 209.90.
More