EUR/USD 1.16612
0.748%
Gold 4485.67
3.495%
Oil 85.002
0.823%
USD/JPY 158.516
-0.685%
GBP/USD 1.35945
0.467%
GBP/JPY 215.499
-0.213%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
OpenAI: Launches a preview version of "Secure Private Processing," enhancing AI interaction security capabilities without compromising zero data retention. The program is planned for gradual rollout starting in September, along with the release of a related technical white paper.Market news: Payment giant Stripe has agreed to acquire AI routing company OpenRouter.The yield on the 20-year U.S. Treasury note was little changed after the auction, falling 7.42 basis points to 5.205%.On August 20th, Venezuelan Oil Minister Paula Enau told investors in Houston that Venezuela hopes to sign production-sharing contracts and increase oil production in the country with the worlds largest crude oil reserves. Enau stated that Venezuela currently has 916 blocks available for exploration and production. She said that Venezuela is known for its heavy crude oil, but there are also investment opportunities in light and medium crude oil, as well as natural gas. She stated, "We need to reach these agreements to access these new blocks." "Theres a whole world waiting for you to explore." This week, Venezuela signed agreements with oilfield services giant Schlumberger (SLB.N) and independent oil producer Hunt Oil, but the country hopes to attract more private investment to revitalize oil production. Venezuelan oil production has been steadily declining for the past 20 years. Enau said that approximately 140 companies attended the meeting, and the size of the investor presence demonstrates the markets interest in investing in Venezuela.On August 20th, US President Trump told reporters at the White House on the 19th that he expects to meet with North Korean leader Kim Jong Un later this year. Trump inspected the construction site of a new helipad on the South Lawn of the White House that day. When asked if he would meet with Kim Jong Un this fall, Trump answered affirmatively, saying he "knows Kim Jong Un very well" and "gets along very well with him."

Natural Gas Price Analysis: Breakout of the 21-DMA sustains bullish XNG/USD sentiment near $2.35

Daniel Rogers

Apr 12, 2023 13:39

 截屏2023-01-19 下午3.42.24.png

 

Natural Gas (XNG/USD) maintains modest gains near $2.36 as bulls maintain control over a three-day uptrend as of early Wednesday. Consequently, XNG/USD investors applaud an unambiguous break of the 21-DMA near the highest levels in three weeks.

 

Bullish MACD signals, sustained trading above the 10-DMA, and the upside of the 21-DMA all contribute to the optimism of Natural Gas buyers.

 

Nonetheless, intraday XNG/USD investors are attracted by the late-March trade high near the $2.40 round number. However, a convergence of numerous levels marked since early March and the 50-day simple moving average (around $2.47-48), followed by the $2.50 threshold, could limit the energy instrument's upside potential.

 

If the XNG/USD remains stronger than $2.48, the March 14 high around $2.75 will be in focus.

 

Alternately, Natural Gas sellers require confirmation from the 21-DMA support at $2.31 in order to revisit the 10-DMA support near $2.25.

 

Notably, the lows recorded since late February emphasize $2.13-12 as the key strong downside support for the XNG/USD bulls to overcome if they wish to reach the high near $1.95 in early July 2020.

 

Overall, the price of Natural Gas regains its upward momentum, but further gains appear constrained to the north.


Suggestion