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Natural Gas Price Shows Lack of Significant Movement

by Jennifer

The natural gas price has maintained its recent sideways movement, with no significant news impacting its trajectory. The ongoing contradiction between major indicators has contributed to this range-bound behavior, making it challenging to initiate a bullish trend without consistent stability above the key support level at 2.400.

Currently, the stochastic indicator is indicating an attempt to exit oversold conditions, suggesting the potential for gathering additional positive momentum. This could enhance the likelihood of overcoming the resistance posed by the EMA50 and reaching positive levels at 2.950 and 3.550.

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The projected trading range for today lies between 2.500 and 2.950, while the anticipated trend for the day is leaning towards a bullish sentiment.

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