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Natural Gas Price Analysis: XNG/USD rebound approaches $2.75 key upside hurdle
Natural Gas Price (XNG/USD) remains on the front foot around $2.71 as it prints a three-day uptrend amid Friday’s Asian session. In doing so, the energy instrument defends the early-week rebound from a fortnight-old rising support line. Apart from a successful bounce off the short-term key trend line support, the XNG/USD’s sustained trading beyond the 50-SMA and a looming bull cross on the MACD indicator also keeps the Natural Gas buyers hopeful. As a result, the energy buyers are marking another attempt to cross the key resistance line stretched from May 19, around $2.75 by the press time. Also acting as an ... (full story)