Natural Gas Price Consolidates Ahead Of EIA Report
Meanwhile, European natural gas markets test new highs at the opening.
Key Insights
Traders are waiting for the release of EIA report, which may have a significant impact on natural gas markets.
In Europe, the rally continues, and natural gas markets test new highs.
Natural gas must settle above the resistance at $9.35 to have a chance to develop upside momentum.
Natural gas prices remain stuck below the resistance at $9.35. Natural gas has already made several attempts to settle above this level, but these attempts were not successful.
1. In case natural gas settles back above the $9.35 level in the upcoming trading sessions, it could gain new upside momentum.
2. To have a chance to develop a new downside trend, natural gas must settle below the 20 EMA at $8.80. Strong interest is expected from trades here.
risk disclosure
