Natural Gas Price Analysis: XNG/USD looks all set to refresh multi-month low near $2.00 Gas Technical Analysis Commodities TrendFollowing ChartPatterns
The XNG/USD bears cheer the sustained trading below a fortnight-long descending resistance line, around $2.27 by the press time, amid bearish MACD signals and an absence of oversold RSI .
However, the early July 2020 high surrounding $1.97 and the 61.8% Fibonacci Expansion of its moves during early January-March 2023, around $1.80, could challenge the Natural Gas bears afterward, amid a likely oversold RSI line around then. Should the quote manages to remain firmer past $2.40, the odds of witnessing a rally toward the mid-March high of $2.75 can’t be ruled out.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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