Natural Gas Price Analysis: XNG/USD rebound remains unimpressive below $2.45

Natural Gas price grinds higher after reversing from two-week low, prints the first daily gains in three.
Clear downside break of 100-SMA, bearish MACD signals favor XNG/USD sellers.
Two-month-old descending trend line appears crucial hurdle for Natural Gas buyers to tackle.

Anil Panchal FXStreet

Natural Gas (XNG/USD) price seesaws around the intraday high of $2.32 as bulls await fresh clues to extend the previous day’s rebound from a 12-day low. In doing so, the energy instrument traces the broad market anxiety ahead of the key Federal Open Market Committee (FOMC) monetary policy meeting announcements early Wednesday.

It’s worth noting that the XNG/USD’s latest rebound snaps a two-day losing streak as RSI (14) line recovers towards the 50.0 level, suggesting further short-covering.

However, the bearish MACD signals and the 100-SMA hurdle of $2.37 can challenge the immediate upside of the Natural Gas price.

Even if the XNG/USD manages to cross the $2.37 SMA hurdle, a downward-sloping resistance line from early March, close to $2.45 by the press time, appears the key challenge for the buyers to tackle before retaking the control.

Meanwhile, the $2.30 round figure and the latest low surrounding $2.27 restrict the immediate downside of the Natural Gas price.

Following that, multiple levels near $2.20 can check the XNG/USD bears before directing them to the Year-To-Date (YTD) low marked in April around $2.11.

Should the Natural Gas bears manage to keep the reins past $2.11, the odds of witnessing a slump toward the $2.00 round figure can’t be ruled out.

Natural Gas Price: Four-hour chart

Trend: Limited recovery 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 climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.