Natural gas price lacks the positive momentum – Forecast today – 29-4-2024

Natural Gas Price Analysis

Expected Scenario

• Natural gas price postponed the bullish rally and provided new sideways trades by fluctuating near 1.9500$ recently, affected by the negativity of the major indicators, as stochastic declines below 50, while the MA55 forms additional barrier at 2.050$.
• The continuous contradiction between the price attempt to settle above 1.900$ against the mentioned negative pressures allow us to stay neutral for today and monitor the price until getting clearer signal for the next trend.

Expected Trading Range

Between 1.900$ and 2.050$