Natural gas price threats the historical support – Forecast today – 27-3-2024

Natural Gas Price Analysis

• Natural gas price formed new negative wave yesterday to threaten the stability of the historical support 1.540$, followed by bouncing towards 1.650$ initially, attempting to get new negative momentum in order to reinforce the negative trades for the upcoming period.
• The stability below the initial barrier 1.810$ and the major indicators’ attempt to provide the negative momentum allow us to wait to confirm breaking the mentioned support to force it to suffer new losses by crawling towards 1.250$, followed by reaching the psychological support at 1.000$.

The expected trading range for today is between 1.700$ and 1.400$.

Trend forecast: Bearish