Despite the attempt of natural gas price to form some positive trades, its repeated positioning below the 55-period moving average, which acts as a strong barrier at 3.360$, supports the chances of the bearish path dominating the near-term trading.

 

Additionally, the Stochastic indicator’s exit from the overbought level will increase negative pressure on the current trades. Therefore, we maintain our bearish expectations, which may target the 2.920$ and 2.800$ levels respectively in the near term. As for activating a bullish attack, the price needs to form a strong positive surge and stabilize above the resistance level at 3.530$.

 

 

The expected trading range for today is between 2.920$ and 3.300$.

 

 

Trend forecast: Bearish