Natural gas price touches the main target – Forecast – 23-11-2024

Economies.com

2024-11-23 08:08AM UTC

Natural gas price continued to form strong bullish trades to surpass the first target at 3.360$ and notice the attempt to surpass the main target at 3.560$, followed by bouncing below it to confirm forming solid obstacle against the attempts to resume the bullish attack.

Also, stochastic reaches the overbought areas to confirm the price surrender to the domination of the sideways bias, to expect forming weak trades with chances to decline towards 3.350$ temporarily, while confirming breaching the current obstacle will allow it to target new positive stations that might extend towards 3.750$ first.

The expected trading range for today is between 3.350$ and 3.560$

Trend forecast: Sideways