As predicted in our previous post on #XNGUSD, the blue commodity experienced a downtrend correction, almost reaching the $3.7/MMBtu target. The price moved accordingly to a local downward channel.
Yesterday, after reaching its lower edge, natural gas rebounded on news that European storage is emptying quicker than expected, the US while the temperature forecast turned cold again both in the US and the EU. Adding to the rally’s strength, Germany’s economy ministry said it is not planning to conduct talks about a Nord-Stream 2 relaunch and that energy independence from Moscow remains a crucial point of its policy.
With the short scenario now completed, #XNGUSD has all the chances of reaching $4.34/MMBtu and above again, as fundamentals remain bullish.
Trade energies on Headway!Natural Gas Reaches Targets and Rebounds
As predicted in our previous post on #XNGUSD, the blue commodity experienced a downtrend correction, almost reaching the $3.7/MMBtu target. The price moved accordingly to a local downward channel.
Yesterday, after reaching its lower edge, natural gas rebounded on news that European storage is emptying quicker than expected, the US while the temperature forecast turned cold again both in the US and the EU. Adding to the rally’s strength, Germany’s economy ministry said it is not planning to conduct talks about a Nord-Stream 2 relaunch and that energy independence from Moscow remains a crucial point of its policy.
With the short scenario now completed, #XNGUSD has all the chances of reaching $4.34/MMBtu and above again, as fundamentals remain bullish.
Trade energies on Headway!Publication date:
2025-03-04 14:29:04 (GMT)
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