Natural gas price reached $5.510 level in Friday’s trading, to record the previously suggested initial main target, which forces it to form quick rebound towards $5.150, affected by stochastic attempt to exit the overbought level.

 

This will not threaten the main bullish scenario due to the stability within the bullish channel, besides the continuation of forming extra support at $4.750 level against the current trading, therefore, we will keep waiting for gathering extra bullish momentum, to ease the mission of its stability above $5.450 level, then wait for recording the next main target near $5.710.

 

The expected trading range for today is between $5.000 and $5.450

 

Trend forecast: Bullish