• Natural Gas remains sidelined after snapping two-day winning streak within fortnight-old symmetrical triangle.
• Steady oscillators suggest further grinding of XNG/USD price within $2.77 and $2.64 key technical levels.
• 100-SMA adds strength to $2.64 support, bulls need validation from June’s high to keep the reins.
• Softer US Dollar, hopes of more stimulus from China, India favor XNG/USD bulls.

Natural Gas Price (XNG/USD) licks its wounds near $2.70 amid Tuesday’s sluggish Asian session, after printing the first daily loss in three the previous day.

In doing so, the energy instrument remains within a two-week-old symmetrical triangle, recently approaching the bottom line.

It’s worth noting, however, that the steady RSI (14) line and mildly bullish MACD signals, despite being sluggish of late, keep the Natural Gas buyers hopeful.

Adding strength to the XNG/USD price are the headlines suggesting a likely improvement in the US-China ties and more investments in India. Considering Asia’s major energy consumption, upbeat news about China and India underpins optimism about the XNG/USD price.

That said, the 100-SMA adds strength to the $2.64 support comprising the stated triangle’s bottom line.

Following that, a quick fall toward the late June swing low of near $2.52 can’t be ruled out. However, a horizontal area comprising multiple levels marked since May 31, close to $2.43-44, can challenge the Natural Gas sellers afterward.

Meanwhile, the XNG/USD upside hinges on a clear break of the stated triangle’s top line, currently around $2.77. Even so, the previous monthly high of near $2.93 and the $3.00 psychological magnet will test the Natural Gas buyers