Natural Gas Price Analysis: XNG/USD bears need to break $2.62 for conviction – by anilpanchal7 Gas Energy Commodities Technical Analysis ChartPatterns
Convergence of 21-DMA, ascending trend line from early June challenges XNG/USD sellers.
In addition to the trend line break, the bearish MACD signal and the near 50.0 conditions of the RSI line, also keep the Natural Gas bears hopeful. Alternatively, an upside break of the support-turned-resistance line, near $2.68 by the press time, will need validation from the 10-DMA hurdle of around $2.73 to convince the Natural Gas buyers.
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