Natural Gas Price Analysis: XNG/USD drops to $2.37 within nearby descending triangle Gas Energy Commodities ChartPatterns Technical Analysis
In doing so, the XNG/USD price remains inside a two-week-old descending triangle formation amid sluggish MACD signals and steady RSI .
It’s worth noting that an upside break of $2.45 won’t hesitate to challenge a downward-sloping resistance line from March 08, close to $2.57. Following that, the six-week high marked on Friday at around $2.58 can act as the last defense of the Natural Gas sellers. Should the quote remains bearish past $2.32, the yearly low marked in April around $2.11 and the $2.00 psychological magnet will gain the market’s attention.Natural Gas Price: Daily chartInformation 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.
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