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Natural gas prices have continued their downward trend, remaining below the minor bearish channel resistance at $2.260. Recently, prices have formed a negative wave and are now settling around $2.170.
To confirm the ongoing downtrend, prices need to drop below the $2.137 level. If this occurs, it will increase the likelihood of targeting lower levels near $2.070 and $1.950. Conversely, if prices rise above the resistance and close positively, this could lead to a strong bullish rally, with potential targets at $2.350 and $2.440.
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Today’s expected trading range is between $2.250 and $2.070.
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