NATURAL GAS REACHED THE KEY SUPPORT LEVEL. WHERE TO GO NEXT?

NATURAL GAS REACHED THE KEY SUPPORT LEVEL. WHERE TO GO NEXT?

XNGUSD has come to a crucial support level of 3.0000. Although the sentiment here stays as quite bearish (seasonally, August is not the perfect month for natgas buyers), we expect the price to rebound from the level of 3.0000 towards 3.3000 first. Afterwards, the continuation of bearish trend is expected with final target of 2.6000 before cold season beginning.

https://www.tradingview.com/chart/NATURALGAS/ekdIFse2-XNGUSD-CONTINUES-ITS-DOWNWARD-TREND-FOR-HOW-LONG/