Natural gas prices remain under moderate pressure
Natural gas prices remain under moderate pressure, while intraday volatility continues to stay relatively low.
After rebounding toward resistance around $2.88, natural gas prices resumed their decline and are currently trading near support at $2.70.
Amid the ongoing pressure, a break below this support cannot be ruled out, which could lead to a decline toward the $2.66-2.64 area. Bulls may become more active near these levels, but without stronger demand from countries replenishing gas reserves, a meaningful recovery in prices is unlikely.
Pullbacks into the $2.80-2.86 range may still be used as opportunities to open short positions.
If support at $2.64 is broken, further downside toward $2.60-2.56 should be expected.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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