Natural 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
Natural Gas price holds ground above $2.00 on Friday. Gas prices are likely to tick up as European traders start to prepare for the next winter season. The US Dollar Index falls back to the 105.50 region ahead of the US PCE release. Natural Gas prices are holding ground above $2.00 on Friday after a brief dip earlier this week.
Any further disruptions could trigger a shot higher, with Gas prices heading to $2.50 over the summer. On the upside, the blue line at $2.11, the 2023 low, and the 100-day Simple Moving Average at $2.10 are acting as a resistance. Further up, the next level to watch is the January 25 high at $2.33. On the other side, the $2.00 handle has worked as nearby support for now. Further down, a trifecta of support is formed at $1.
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