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Natural Gas Price Nears Target – Forecast for June 12, 2024

by Jennifer

Natural Gas Price Analysis:

The natural gas price has persisted in its bullish trajectory, drawing closer to the attainment of the second additional target at the $3.200 level. This upward movement is influenced by several positive factors, including sustained stability above the critical support level of $2.880, coupled with ongoing momentum from key indicators.

Expected Scenario:

As the price approaches the $3.200 level, there may be a period of sideways trading as it seeks to overcome this barrier. Once this level is surpassed, it is anticipated to pave the way for further gains, with the next significant target projected at the $3.500 level within the current trading period.

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Expected Trading Range:

The expected trading range spans from the support level at $3.030 to the resistance level at $3.330.

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Trend Forecast:

In line with the prevailing market dynamics and the continued bullish momentum, the trend forecast maintains a bullish outlook for natural gas prices, with expectations for further upward movement towards the identified targets.

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