Natural Gas Price Analysis: XNG/USD retreats towards $2.24 within immediate bearish channel

However, the bullish MACD signals, as well as a convergence of the 21-SMA and 50-SMA, around $2.24, restrict the immediate downside of the XNG/USD.

Should the quote remains bearish past $2.11, the odds of witnessing a slump toward the $2.00 round figure can’t be ruled out. However, the July 2020 high surrounding $1.95 could challenge the Natural Gas bears afterward. Even if the commodity price remains firmer past $2.44, the mid-March swing low around $2.48 and the $2.50 round figure can act as additional upside filters before giving control to the Natural Gas buyers.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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