The price of natural gas has fallen out of its rising channel, and the price is down 3.84% today from the start of trading tonight. From yesterday's high of $ 8.50, the price has dropped to the current $ 7.88. The drop in demand and the end of the heating season are also the reason why the price could retreat to the previous support zones. Today's potential bearish targets are $ 7.73, $ 7.55 and $ 7.44 level. We need a new positive consolidation and a return above the $ 8.00 price for the bullish option. After that, we return to the previous bullish channel and continue to the bullish side. If the price manages to return to positive territory, our following targets are $ 8.35 and $ 8.50 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.