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Natural Gas Price Analysis: XNG/USD reverses from support-turned-resistance surrounding $2.55
Natural Gas Price (XNG/USD) drops for the fourth consecutive day, fading the bounce off the monthly low, to around $2.53 amid Monday’s Asian session. In doing so, the XNG/USD retreats from a six-week-old previous support line, around $2.55 by the press time. Also challenging the Natural Gas buyers is the absence of the oversold RSI and the sustained trading beneath the 200-SMA hurdle of around $2.57. It should be noted, however, that the looming bull cross on the MACD can help recall the XNG/USD bulls in a case where the commodity buyers manage to cross the 200-SMA hurdle of around $2.57. Following that, a ... (full story)