Monday, June 26, 2023 12:00 AM EST
Natural Gas Price (XNG/USD) remains on the front foot at the highest levels since March, up 1.60% near $2.87 amid early Monday, as the quote justifies the upside break of the previous key technical hurdles despite mixed oscillators.
That said, a clear upside break of the 100-day Exponential Moving Average (EMA), around $2.83 by the press time, allows the Natural Gas Price to aim for March’s peak of around $3.0820.
However, the overbought RSI (14) conditions may prod the XNG/USD near the $3.0 round figure.
In a case where the Natural Gas Price remains firmer past $3.08, the odds of witnessing a run-up towards the $4.0 round figure and then to the yearly top surrounding $4.30 can’t be ruled out.
On the flip side, the 100-EMA and previous resistance line from March, respectively near $2.83 and $2.71, restrict the short-term downside of the Natural Gas price.
Following that, a four-month-old horizontal support zone around $2.10, quickly followed by the $2.00 psychological magnet, will challenge the XNG/USD bears.
Overall, the Natural Gas Price appears lucrative for the CNG/USD bulls even if $3.08 seems a short-term peak.
Natural Gas Price: Daily chart
(Click on image to enlarge)
![](https://editorial.fxstreet.com/miscelaneous/XNG_USD-26062023-638233419692734245.png)
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