Natural gas price surrendered to negative pressures due to the stability of stochastic within the oversold level, reaching the initial main target at 3.165, to form sideways trading by its fluctuating near $3.245.
We expect reaching $2.840 to face %66.8 Fibonacci corrective level, and its stability might provide a chance for stopping the bearish moves and begin forming bullish base to reinforce the chances for building a new bullish trend in the near and medium period, while the decline below $2.840 and providing a negative close will force it to suffer extra losses by reaching $2.650 and $2.355.
The expected trading range for today is between $2.850 and $3.350
Trend forecast: Bearish