Natural Gas price struggles to gain any meaningful traction on Tuesday and oscillates in a narrow trading band, around the $2.7200 area during the Asi
an session. The technical setup, meanwhile, seems tilted in favour of bullish traders and suggests that the path of least resistance for the XNG/USD is to the upside.
Hence, it will be prudent to wait for some follow-through buying beyond the overnight swing high, around the $2.7900 area, before positioning for any meaningful appreciating move. The XNG/USD might then accelerate the positive move towards the $2.8540-$2.8640 horizontal barrier en route to the $2.9400 area and the $3.0000 psychological mark. The momentum could get extended towards the monthly peak, around the $3.0580 region.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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