The energy commodity is up 6.67% in the last three trading sessions and could reach the resistance at 4.029 in the next few days. The price has struggled since late November and carried the downtrend to December; now, there is a chance of recovery to close with a less harmful loss.
The Bollinger bands are wide, but they are starting to close; the lower band is moving up slightly, which often indicates that the price could go up in the short term. The pair is currently at a fair price, allowing traders to open positions. The general trend continues to be downwards, but demand for Natural Gas will increase in the following weeks as Winter just enters.
The relative strength index is at 39%, which will allow the pair to climb freely without worrying too much about entering an overbought status. In early December, the pair entered an oversold status and has not fully recovered as the price moved sideways for a few weeks.
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