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Natural Gas Price Hits the Second Target – Forecast for July 5, 2024

Natural Gas Price Analysis

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Expected Scenario

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The natural gas price has continued to exhibit calm bearish trades, recently crawling below the MA55 and achieving the second negative target at $2.370, which forms key support against the current trades. The price might experience some sideways trades, but the frequent stability below the 50% level at $2.580 and the continued negative indications from major indicators could force the price to break the current support, leading to additional losses that might extend towards $2.300 and $2.225.

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Expected Trading Range

Today’s anticipated trading range for natural gas is between the $2.460 resistance level and the $2.300 support level.

Trend Forecast

The trend forecast for natural gas remains bearish.

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