Natural Gas price (XNG/USD) is steamrolling on Thursday, reaching the highest level in four months and breaking another important technical level on more headlines that China is cornering the Gas markets.
Natural Gas prices break above $2.60, a four-month high. China’s biggest LNG buyers placed orders to further expand its LNG tanker fleet. The US Dollar Index sinks after US CPI shows the economy is back on track in its disinflationary path. Natural Gas price is steamrolling on Thursday, reaching the highest level in four months and breaking another important technical level on more headlines that China is cornering the Gas markets.
07 looks to be the first upside big profit target at hand. This would mean another 18% gains on the table, should the US Dollar continue to weaken and China keeps propelling demand. The $3.00 marker as a big figure is the first level to watch on the upside. Once through there, the pivotal level near $3.07 will come into play and mark a new high for 2024. Further up, there is room for a quick crossing towards $3.69. On the downside, ahead of the double belt with the 100-day SMA at $2.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Natural Gas holds onto three-month highs with markets at unease over GazaNatural Gas (XNG/USD) trades broadly steady on Monday after the rally seen on Friday, when prices escalated to the highest level in more than three months.
Read more »
Natural Gas eases from three-month high as traders take profitsNatural Gas (XNG/USD) retreats from the peak at $2.40 seen on Monday after markets were pricing in more risk premium on the heated-up situation in the Middle East.
Read more »
Natural Gas looks set to rally as Europe gears up for next heating seasonNatural Gas (XNG/USD) prices are holding ground above $2.00 on Friday after a brief dip earlier this week. Gas prices are quickly recovering as mainland Europe is gearing up for the next heating season, with traders starting to negotiate contracts in
Read more »
Natural Gas faces the end of its rally with more downside outlookNatural Gas price (XNG/USD) has given traders a nice run, rallying 40% since the end of March. This movement partially came on the back of Israel and its continuing attacks on Gaza.
Read more »
What is Natural Gas? A Trader’s Primer to Natural Gas MarketsNatural gas is a commodity with some very important uses. This article explains more about Natural gas markets.
Read more »
Natural Gas steadies as US mulls fresh sanctions on IranNatural Gas (XNG/USD) trades flat in a narrow range on Wednesday, digesting the overnight headlines that came out about lingering tensions in the Middle East.
Read more »