Natural Gas Stuck, Crude Oil Under Pressure as Markets Await Breakout

The natural gas market is currently stuck within an incredibly tight range at the bottom of a massive two-year falling wedge, according to recent analysis. This coiled range has been in place for some time, and experts predict that once it breaks, there will be a major influx of volume.

To confirm a bull breakout, analysts are looking for a decisive close above $3.30 and $3.40, which would target $3.50. Conversely, if the price falls below the established double-bottom support, it could signal a bearish breakdown.

The crude oil market is also experiencing a downtrend, with a recent triple RSI divergence signaling the ultimate macro top. As long as the daily trend remains intact, bears are in control, and the price could potentially test $90-$95 or even the $80s by year-end.