Natural Gas Price Analysis: XAG/USD rebound appears elusive below $2.53-54 resistance confluence Gas Commodities Energy Technical Analysis ChartPatterns
y. In doing so, the energy instrument also pares the biggest daily loss in a week amid bullish MACD signals and a steady RSI line. With this, the XNG/USD is likely to witness further recovery.
Following that, a run-up towards the mid-March swing high of around $2.75 and then to the $3.00 round figure can’t be ruled out. On the flip side, the 10-DMA and the 21-DMA put a floor under the Natural Gas price around $2.38 and $2.30 respectively. 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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