Natural Gas Price Analysis: Overbought RSI prods XNG/USD bulls below $2.80 key hurdle

Natural Gas price retreats from the highest levels in five weeks, pares the biggest daily jump in seven months.
Overbought RSI, 4.5-month-old horizontal area challenge XNG/USD bulls.
100-DMA, April’s top can restrict pullback moves, Natural Gas buyers remain hopeful beyond $2.50.

Anil Panchal FXStreet

Natural Gas (XNG/USD) price remains mildly offered near $2.71 as it pares the biggest daily gains since October 2022 amid early Friday in Europe. In doing so, the energy instrument eases from a five-week high amid the overbought RSI (14) conditions.

However, the XNG/USD’s ability to stay beyond the 100-DMA support, around $2.64 by the press time, keeps the buyers hopeful.

Even if the Natural Gas price drops below $2.64 DMA support, April’s top surrounding $2.57 and multiple levels marked since March, close to $2.50, could challenge the commodity bears before giving them control. It should be noted that a two-week-old ascending support line near $2.51 acts as an extra filter towards the south.

In that case, a quick fall towards the early May’s swing high of near $2.39 can’t be ruled out.

On the flip side, a nearly four-month-old horizontal resistance area surrounding $2.75-80 appears a tough nut to crack for Natural Gas buyers.

Though, a daily closing beyond $2.80 won’t hesitate to prod the March month high of $3.08. That said, the $3.00 psychological magnet may act as an intermediate halt between $2.80 and $3.08.

Overall, the Natural Gas price remains on the bull’s radar despite the latest retreat.

Natural Gas Price: Daily chart

Trend: Further upside expected

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD: Cautiously optimistic near 1.1550 ahead of the ECB

EUR/USD extends its weekly recovery for the third day in a row on Wednesday, navigating in a sidelined fashion around 1.1550 on the back of humble losses in the US Dollar. In the meantime, market participants continue to closely follow developments in the Middle East while slowly gearing up for the ECB gathering on Thursday.

GBP/USD recedes from tops, hovers around 1.3400

GBP/USD could not sustain the initial bull run and is now slipping back toward the 1.3400 neighbourhood on Wednesday. Cable’s continuation of the ongoing leg higher follows mild selling pressure on the Greenback, despite steady uncertainty on the geopolitical front and elevated US inflation.

Gold bleeding continues as Middle East crisis escalates, Fed hike coming

Gold is accelerating its downward trends and approaches the area of $4,100 per troy ounce on Wednesday, where the 2026 bottom sits so far. The persistent decline in the precious metal almost exclusively follows the swelling opinion that the Fed will keep a cautious stance in H2, a view that was reinforced following earlier US CPI data.

$1,500: Why Ethereum just crashed 20% despite spot markets barely selling

Ethereum (ETH) recently suffered one of its sharpest declines of 2026, dropping more than 20% and briefly testing the $1,500 area. While the sell-off appeared to reflect broader market fears, derivatives and on-chain data suggest a more complex story may be unfolding beneath the surface.

Brutal sell-off: Silver deepens months-long slide, refocusing on $60

Silver has never been known for its calm temperament. The precious metal can spend weeks grinding higher before suddenly giving back months of gains in a matter of days. That volatile reputation has been on full display in recent weeks.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.