Natural Gas Price Analysis: XNG/USD sellers challenge two-month-old triangle, focus on $2.59 – by anilpanchal7 Gas Commodities Energy Technical Analysis ChartPatterns
That said, a downward-sloping RSI line, not oversold and stays near 50.00, joins the XNG/USD’s failure to keep the previous day’s rebound from the 50-day Exponential Moving Average to favor the sellers.
In a case where the energy instrument drops below $2.59, the odds of witnessing a slump toward the previous monthly low of around $2.47 can’t be ruled out. Even so, the aforementioned triangle’s top line, near $2.74 at the latest, precedes the 100-EMA hurdle of around $2.75 to challenge the Natural Gas bull before giving them control.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.
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