Natural Gas price extends last week's retracement slide from a nine-month peak, around the $3.6350-$3.6400 area, and remains under some selling pressu
Natural Gas price drifts lower for the third straight day and moves away from a multi-month top. The technical setup favours bulls and supports prospects for the emergence of some dip-buying. A break below the $3.0650 resistance-turned-support is needed to negate the positive outlook. re for the third successive day on Monday. The XNG/USD trades around the $3.
0650 strong horizontal barrier, suggests that the path of least resistance for the XNG/USD is to the upside and supports prospects for the emergence of some dip-buying at lower levels. In the meantime, the $3.3600 level is likely to protect the immediate downside ahead of the $3.2100-$3.1960 support zone. This is followed by the $3.0650 resistance-turned-support, which now coincides with the 200-period Simple Moving Average on the 4-hour chart.
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