Natural gas price awaits the positive momentum – Forecast today – 1-5-2024

Scenarios and Trading Range

Expected Scenarios

• Natural gas price didn’t achieve any new positive level yesterday.
• Returned and fluctuated near 1.960$ level, affected by negativity of major indicators.

Contradicts the attempt to settle above the additional support at 1.900$.

Expect forming sideways trades until gathering positive momentum to renew pressure on the additional resistance at 2.180$.

Crawling below 1.900$ will force postponement of bullish attack and form new negative waves, possibly pushing it towards 1.820$ followed by reaching the major support at 1.710$.

Trading Range

The expected trading range for today is between 1.920$ and 2.050$.

Trend Forecast

Bullish