Natural gas price moves away from the barrier – Forecast today – 15-4-2024

Scenarios and Trading Range

Natural gas price formed some negative waves recently, to move away from 2.000$ barrier and confirm its affection by the domination of the bearish bias, due to the negative momentum coming by the major indicators.

These factors confirm the price preparation to form more negative attempts, to expect moving towards 1.650$ level soon, followed by repeating the pressure on the historical support 1.540$ that forms the key to detect the next main trend.

The expected trading range for today is between 1.880$ and 1.650$

Scenario Report

1. Formation of negative waves, moving away from 2.000$ barrier.
2. Confirmation of bearish bias by major indicators.
3. Expectation of movement towards 1.650$ level.
4. Repeating pressure on historical support at 1.540$.
5. Key level to detect the next main trend.