Natural gas price continued providing weak sideways trading, affected by the contradiction between the main indicators besides forming a significant obstacle against the attempts to renew the bullish attack, fluctuating near $3.850.

 

There is a chance for forming new bearish waves, to press on the moving average 55 at $3.450, and surpassing it might extend the losses towards $3.050, facing the extension of historical support, while the price success in surpassing $4.000 level and holding above it will allow it to renew the bullish attempts, to expect targeting $4.220 and $4.450 level.

 

The expected trading range for today is between $3.450 and $4.050

 

Trend forecast: Bearish