Natural gas price surrenders to the negativity – Analysis – 5-9-2018

Natural gas price continued to provide negative closings below 3.050 resistance, to notice forming sharp decline and record 2.83 level, while the price current consolidation below the moving average 55 supports gathering new negative momentum, to expect resuming the negative attack to target 2.760 followed by reaching 2.670 on the near term basis.

Also, stochastic sharp decline and settling within the oversold areas supports the negative overview by providing additional negative momentum and increases the chances of reaching the mentioned negative targets.

Expected trading range for today is between 2.900 and 2.760

Expected trend for today: Bearish