Natural gas price repeatedly provided negative close below the broken support at $4.100 level, forming a new resistance against the current trading, and stochastic attempt to provide negative momentum by reaching below 50 level will force the price to form new bearish waves, reaching $3.450 and surpassing it might force it to decline towards $3.220, to test high liquidity grab zones.

 

While the rally above $4.100 and providing bullish close will increase the chances of forming new bullish waves, to attempt to reach $3.370 initially, then waiting for targeting %38.2 Fibonacci correction level near $4.750.

 

The expected trading range for today is between $3.450 and $4.100

 

Trend forecast: Bearish