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As experts in the area of the Stock Market and trading, we are here to provide you with valuable insights and analysis that you won’t find anywhere else. Today, let’s take a closer look at the current state of the natural gas market and what trends we can expect in the coming days.
Bear Trend Remains Dominate
Currently, the bear trend in the natural gas market is still dominant. While there is potential for a bullish reversal, with support found at a low of 2.015 this week, there are no clear signs of a trend change yet. To indicate strength, natural gas would need to rise above 2.21 and maintain that level for a sustained period. A test of the 200-Day MA at 2.44 would then become a likely target if this bullish momentum continues.
Above 2.21 Shows Strength
If natural gas prices climb above 2.21, it would signal a significant strengthening of the market. This would also breach the internal downtrend line, making the higher trendline the next target. With the 20-Day MA currently at 2.41 converging with the internal trend line, there is a clear price area to monitor. Additional indicators point to a potential resistance zone from 2.44 to 2.62, reinforcing the importance of these levels in the coming days.
Minor Bullish Sign in Weekly Chart
Despite the continued bear trend, there is a minor bullish sign in the weekly chart for natural gas. This week is likely to close stronger relative to the week’s trading range compared to the past five weeks. While this is a small indication, it does suggest that natural gas is finding some support at current levels.
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