No news for natural gas price – Forecast today – 9-4-2024

Natural Gas Price Analysis

Expected Scenario

• The natural gas price remains under the effect of a sideways track, continuing to form mixed trades by moving between $1.540 support and $2.000, which serves as the main barrier against regaining the bullish bias.
• Neutrality is maintained until either surpassing one of the mentioned levels to confirm the next main trend. Breaching the current barrier and holding above it would confirm a move to the bullish track and initiate gains, potentially starting at $2.150 and $2.300. Conversely, declining below $1.540 support and settling below it would lead to new losses, targeting $1.320 and potentially reaching the psychological support at $1.000.

Expected Outcome

The natural gas price is expected to continue its sideways movement, with mixed trades between support at $1.540 and resistance at $2.000. The direction of the next main trend will be confirmed upon surpassing one of these levels.

Breaching the $2.000 resistance and holding above it would signal a move to the bullish track, while declining below $1.540 support would lead to further losses.

Expected Trading Range

Between $1.650 support and $1.900 resistance.