Natural Gas Price (XNG/USD) clings to mild gains around $2.72–73 during early Monday as it stretches the late Friday’s corrective bounce amid a sluggi
sh Asian session. In doing so, the energy instrument also justifies the market’s cautious optimism, as well as a pullback inUS Dollar Index: DXY retreats towards 103.00 on Friday’s Doji, Fed remarks at Jackson Hole eyed
However, a convergence of the 50-Exponential Moving Average joins a top-line of the two-week-old falling wedge bullish chart formation to highlight the $2.76 as a tough nut to crack for Natural Gas buyers. On the contrary, the stated wedge’s bottom line, close to $2.63 by the press time, restricts the immediate downside of the Natural Gas Price.
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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