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Natural gas prices remain range-bound, showing weak movement as they continue to fluctuate around the initial support level of $3.600. The commodity is currently facing resistance from the 55-period moving average, limiting any immediate upside attempts.
The market is in need of stronger positive momentum to avert a bearish correction. Stability above the secondary support at $3.440 is crucial to preserving the current bullish outlook. A rebound from current levels could initiate a new upward wave, aiming to challenge the $3.780 resistance barrier. A break above this level could open the path for further gains in the near term.
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Expected Trading Range for Today: $3.550 – $3.780
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Trend Forecast: Bullish
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