Natural Gas Price Analysis: XNG/USD recaptures $2.60 within six-week-old bearish channel – by anilpanchal7 Gas Technical Analysis Energy Commodities ChartPatterns
doing so, the XNG/USD extends the previous day’s recovery from the lowest level in three weeks while staying within a 1.5-month-long descending trend channel.
Even so, the previous support line from early June guards the immediate recovery of the XNG/USD near $2.64. It’s worth noting, however, that the XNG/USD bulls must defy the bearish channel by crossing the $2.75 hurdle to restore the market’s confidence. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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