Natural Gas price moves into new negative track – Analysis – 5-2-2019

Natural gas price faced strong negative pressures recently to notice crawling below the key support 2.925 and settling within new negative range by reaching 2.680, which allows us to suggest more negative trades and expect providing negative pressure on 2.5000 level in order to reach the previously recorded low at 1.6000.

The stability of the moving average 55 confirms forming new resistance against the negative trades, also, stochastic reach to the oversold areas paves the way to gather new negative momentum to ease the mission of achieving the suggested targets.

The expected trading range for today is between 2.860 and 2.500

The expected trend for today: Bearish