Advertisements

Natural Gas Price Hits Target at 1.560, Faces Critical Historical Support on February 19, 2024

by Jennifer

The natural gas price has successfully reached its primary target at 1.560 and is currently positioned near key historical support. Given the significance of this support line in determining the main trend, a neutral stance is recommended. Waiting for the next close is crucial to confirming the trend and identifying potential future targets.

A decline below the current support, accompanied by a negative close, would prompt a resumption of the decline, potentially leading to new losses. In this scenario, the price might extend towards 1.250, followed by reaching the psychological support line at 1.000. Conversely, maintaining support above the current level would activate the correctional bullish track, with an expected rally towards 1.760 and a subsequent target at the resistance line of 2.000.

Advertisements

The projected trading range for today is expected to fall between 1.650 (resistance) and 1.530 (support).

Advertisements

Expected Trend for Today: Neutral

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News