(MENAFN- daily forex) during monday's trading session, natural gas markets demonstrated limited activity due to the observance of juneteenth in the united states. with trading significantly curtailed on the electronic side, the market is expected to remain within its current range. the 50-day exponential moving average offers potential support, while the $3.00 level presents a significant resistance barrier. the current situation suggests a predominantly noisy trading environment.
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read full review get started the natural gas market is currently experiencing summertime trading conditions, characterized by tight ranges and erratic price movements. demand for natural gas typically diminishes during the summer months as heating demand recedes. it is also essential to consider the role of industrial demand in driving pricing during this period. consequently, noise and sideways trading patterns prevail.given the current dynamics, the market is essentially range-bound. the $2.00 level is a substantial support zone, while the $3.00 level represents a significant resistance level. the 50-day ema aligns with this range, further influencing price action. until the approach of winter, when demand typically increases, trading is expected to remain back and forth within this range.back-and-forth movements are expectedthe market will continue to closely monitor european natural gas supply dynamics, particularly with regard to restocking efforts this winter. factors such as the closure of the groningen gas fields and the ongoing conflict in ukraine, which impacts the russian natural gas supply, contribute to supply concerns. amidst this backdrop, the market's behavior is anticipated to remain noisy. however, long-term traders are gradually building positions in anticipation of future developments. while a potential upward move may be expected in the coming months, it remains a distant prospect. in the interim, trading will predominantly entail back-and-forth movements.in the end, the natural gas market exhibited minimal activity during monday's trading session due to the juneteenth holiday in the united states. summer trading conditions, characterized by tight ranges and erratic price movements, prevail. demand for natural gas recedes during this period, and the role of industrial demand remains a consideration. the market is currently range-bound, with substantial support at the $2.00 level and significant resistance at $3.00. the 50-day ema influences price action within this range. european supply concerns contribute to the market's overall noise, while long-term traders gradually position themselves for future developments. while a potential upward move may materialize in the coming months, it remains a distant prospect. in the interim, trading is expected to be characterized by back-and-forth movements.ready to trade fx natural gas ? we've shortlisted the best commodity brokers in the industry for you.
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