Natural gas exits the bullish track – Analysis – 3-7-2018

Natural gas price faced strong negative pressures recently to notice exiting the bullish track by declining below 2.950 level, recording its first losses by settling at 2.870 level, while the stability of the broken support confirms forming new resistance against the bearish trading to increase the chances of suffering additional losses by moving towards 2.820 followed by 2.760 levels.

The moving average 55 crawl below the current resistance besides stochastic consolidation within the oversold areas confirms the attempt to gather new negative momentum and assist to attempt to reach the suggested targets.

Expected trading range for today is between 2.920 and 2.820

Expected trend for today: Bearish