Natural gas price formed a new bullish surge during yesterday’s trading, approaching the first additional target at $3.420, before pulling back to retest the EMA55 as it slipped toward $3.250.

 

We expect the additional support level at $3.100, combined with the Stochastic indicator’s attempt to generate positive momentum, to help the price renew its bullish attempts. Accordingly, we maintain our expectations for an attempt to reach $3.500 and $3.620 in the near term.

 

The expected trading range for today is between $3.200 and $3.500

 

Trend forecast: Bullish