Commodities
Natural Gas Price Faces Downward Pressure Amidst Negative Factors
Natural gas has been experiencing weak trading and sideways movement around $2.740 level.
Despite this, the prevailing negative factors, including its repeated stability below $2.950 barrier and negative momentum from main indicators, suggest that it may break the $2.620 level and hold below it.
This could pave the way for reaching lower price targets at $2.430 and $2.620.
The risk of a reversal in the overall trend arises if the price surpasses the established resistance at $3.370 and stabilizes above it, which would confirm its readiness to record further gains.