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Natural Gas Price Analysis: XNG/USD sits near two-week high; technical setup favours bulls
Natural Gas price builds on the goodish rebound from a multi-week low, around the $2.5760 area touched last Thursday and gains strong follow-through traction for the third successive day. The XNG/USD jumps to the $2.8560 region, or a nearly two-week peak during the Asian session on Monday and seems poised to appreciate further. The recent move-up witnessed over the past two months or so has been along an upward-sloping channel, which points to a well-established short-term bullish trend. This, along with the recent bounce from the 100-day Simple Moving Average (SMA), validates the constructive outlook for the ... (full story)