Natural Gas Price Analysis: 21-DMA prods XNG/USD bulls near $2.65 – by anilpanchal7 Gas Commodities Energy Technical Analysis ChartPatterns
t struggles to extend the week-start recovery from the lowest levels in three weeks amid a lack of fresh directives and a cautious mood ahead of Wednesday’s key US inflation data.
However, the quote’s sustained trading beyond the $2.50 support confluence including the 50-DMA and a five-week-old rising trend line keeps the buyers hopeful within a three-week-old bullish triangle. Following that, the Natural Gas Price can quickly rise toward May’s peak of $2.81 before challenging the previous monthly high of around $2.93.
Overall, the Natural Gas Price remains on the bull’s radar but the road to the upside appears long and bumpy.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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