Natural gas price repeats the sideways fluctuation – Forecast today – 22-3-2024

Natural gas price continued to form weak sideways trades by consolidating near 1.700$ level, affected by the continuous contradiction between the major indicators, in addition to the stability of the main levels represented by 1.540$ support and 2.000$ resistance that forms solid barrier against the attempt to activate the bullish track.

We recommend to stay aside now due to stochastic decline below 50 level, as it will postpone the positive attempts now and wait for new signal to detect the next main trend by surpassing one of the above-mentioned levels.

The expected trading range for today is between 1.600$ and 1.700$

Trend forecast: Neutral