Natural Gas Price News: XNG/USD renews three-week low near $2.17 on supply concerns – by anilpanchal7 Gas Commodities Energy RiskAversion NFP
it the key US employment report on Friday. In doing so, the energy instrument bears the burden of the fears of oversupply, as well as recession.
On the same line is the news, shared via Reuters, mentioning that Estward natural gas flows on the Yamal-Europe pipeline to Poland from Germany resumed on Friday, data from operator Gascade showed. A one-week-old descending resistance line, currently around $2.20, restricts the short-term upside of the Natural Gas Price. However, a downward-sloping support line from late February 2023, close to $2.12 at the latest, appears a tough nut to crack for the XNG/USD bears amid nearly oversold RSI conditions.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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