Natural Gas Price Analysis: XNG/USD prods resistance-turned-support around $2.66 Gas Technical Analysis Energy Commodities ChartPatterns
In doing so, the XNG/USD also justifies the bearish MACD signals and the RSI line’s retreat from the overbought region.However, a one-month-old horizontal support zone, surrounding $2.57-58, appears a tough nut to crack for the Natural Gas bears to retake control.
On the flip side, the Natural Gas price recovery needs validation from the $2.80 ahead of challenging the March month swing high of near $3.08. Overall, Natural Gas price is likely to witness a pullback but the trend remains bullish unless the quote drops below $2.57.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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