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[Natural Gas]
Natural Gas is currently trading sideways, as seen by the price moving between the EMA(50) and EMA(200). However, with the RSI(14) indicator in the Neutral-Bearish area, there is potential in the near term for a decline toward the nearest support level.
Key Levels
1. Resistance. 2 : 3.653
2. Resistance. 1 : 3.340
3. Pivot : 3.180
4. Support. 1 : 2.867
5. Support. 2 : 2.707
Tactical Scenario
Pressure Zone: If the price remains below 3.180, there is potential pressure toward 2.867.
Momentum Extension Bias: If 2.867 is broken to the downside, the weakening may continue to 2.707.
Invalidation Level / Bias Revision
The downside bias is restrained if #NG strengthens and breaks above 3.653.
Technical Summary
EMA(50) : 3.178
EMA(200): 3.106
RSI(14) : 47.05
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - NFIB Small Business Index - 17:00 WIB
US - ADP Weekly Employment Change - 19:15 WIB
US - Existing Home Sales - 21:00 WIB
US - API Weekly Statistical Bulletin - 03:00 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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