Natural Gas Intraday: short term technical rebound towards 3.4100 before a new drop

Natural Gas (NATGAS)
+0.136+3.91%
short term technical rebound towards 3.4100 before a new drop.
image
Our pivot point is at 3.4100.

Our preference: short term technical rebound towards 3.4100 before a new drop.

Alternative scenario: above 3.4100, look for 3.5400 and 3.6200.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Natural Gas (NYMEX) (DEC6) stands above its 20 period moving average (3.2730) but below its 50 period moving average (3.2810).

Supports and resistances:
3.6200 **
3.5400 *
3.4100 **
3.2770 last
3.1100
3.0300 **
2.9500 *

Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
goTop
quote