Commodities
Natural Gas Prices Eye Breakout Above $2.98
Natural gas prices have been trading within a bullish channel, and analysts believe that a breakout above $2.98 could lead to higher targets.
The current pullback is seen as corrective, with short-term support at $2.83 and resistance at $2.94.
A reclaim of the 50-day moving average five days ago has reinforced this view, and analysts expect natural gas prices to continue their upward trend.
If buyers regain control and a new higher swing low is established, potential upside targets come into focus, including $3.09, $3.14, and $3.21.