Natural gas prices began forming new bullish waves, to settle near $4.415 level, affected by the bullish momentum of the main indicators, to keep its stability within the bullish channel that appears in the above image.

 

We expect attacking 38.2%Fibonacci correction level at $4.750, to form the initial main target in the current trading, noting that surpassing this barrier will open the way for recording extra gains in the near period by its rally towards $4.910 and $5.150.

 

The expected trading range for today is between $4.300 and $4.750

 

Trend forecast: Bullish