Natural Gas Is at A Crossroads: What’s Next?
The price of natural gas rebounded from the key resistance level of 3.95, reversed, and dropped. The bears seized the initiative and strengthened their positions. However, the price of this asset might dive even deeper and hit the level of 2.00 next. So, let’s wait and see whether this scenario is going to work out.
The 10-year yield of German government bonds remains at the level of 1.9%. It feels like bears might seize the initiative soon, and the bonds might test the horizontal level. At this point, the buyers might make the asset head North. Time will tell what is going to happen next.
The cross rate of the currency pair NZD/CAD rebounded from the flat downtrend and tested the broken local downtrend and local level of 0.8200. The buyers are likely to step in due to the formation of a long spike of the last candle and potential price recovery and its subsequent rise to the level of 0.8400.
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