Oversupply Weighs on Natural Gas Prices Amid Neutral Market Attitude
Natural gas prices are facing downward pressure due to an oversupply of the commodity.
The current market attitude is neutral to slightly bearish, with plenty of pressure on both sides. This has led to a confused market, where neither bulls nor bears have momentum.
A key level of support for natural gas prices is $2.85, while resistance lies at the $3 mark. Technical indicators also point to uncertainty, as the 50-day EMA remains relatively flat.