Natural gas prices have recently been forced into some sideways trading, stabilizing near $3.060 amid conflicting signals from the main technical indicators, particularly as the 55-period moving average continues to form a strong resistance barrier near $3.250.

 

We emphasize the importance of gathering additional positive momentum to maintain stability above the support level at $2.850, before attempting to renew pressure on the 55-period moving average. This could create an opportunity to achieve further gains, with the next targets currently standing at $3.420 and $3.550.

 

The expected trading range for today is between $3.00 and $3.250.

 

Trend forecast: Bullish