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[Natural Gas]
By looking at the whole technical analysis data for Natural Gas which indicates weakness starting from the Death Cross of EMA(50) with EMA(200) and the RSI(14) indicator which is in the Neutral-Bearish area, Natural Gas is likely to continue its downside today.
Key Levels
1. Resistance. 2 : 3.629
2. Resistance. 1 : 3.558
3. Pivot : 3.457
4. Support. 1 : 3.386
5. Support. 2 : 3.285
Tactical Scenario
Pressure Zone: If the price of Natural Gas breaks down below 3.457, there is potential pressure toward 3.386.
Momentum Extension Bias: if 3.386 is breached to the downside, there is potential for the weakness to continue toward 3.285.
Invalidation Level / Bias Revision
The downside bias is contained if #NG suddenly strengthens and breaks and closes above 3.629.
Technical Summary
EMA(50) : 3.494
EMA(200): 3.724
RSI(14) : 43.75
Economic News Release Agenda :
Tonight from the United States the following economic data will be released:
US- Final Services PMI - 21:45 WIB
US - API Weekly Statistical Bulletin - 04:30 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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