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Natural Gas Price Gathers Strength – Forecast for Today, June 13, 2024

by Jennifer

Natural Gas Price Analysis

Expected Scenario

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Yesterday, the natural gas price engaged in sideways trading, settling near $3.100 and deferring the anticipated bullish rally. This movement was influenced by the stochastic indicator exiting from overbought territory.

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However, the overall bullish sentiment remains intact, contingent upon the $3.850 support level holding firm. Additionally, the $3.960 level serves as supplementary support. Consequently, market participants anticipate a resurgence of positive momentum, aiming to surpass the $3.200 mark and target the next level at $3.500.

Expected Trading Range

The expected trading range is anticipated to be between $3.050 and $3.200.

Trend Forecast: Bullish

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