Natural gas continues to decline – Analysis – 24-7-2018

Natural gas price confirmed its affection by the bearish bias domination by providing new negative close below 50% Fibonacci correction level at 2.750, noticing forming negative attack by reaching 2.703, while the continuous negative pressures support the continuation of the negativity to keep waiting to reach 2.660 followed by attempting to test the key support at 2.560.

Also, stochastic reach to the oversold areas reinforces our negative overview by providing additional negative momentum and increases the chances of resuming recording the mentioned targets.

Expected trading range for today is between 2.750 and 2.660

Expected trend for today: Bearish