Natural Gas Intraday: short term rebound
Natural Gas (NATGAS)
+0.052+1.74%
short term rebound.
Our pivot point stands at 2.1600.
Our preference: short term rebound.
Alternative scenario: the downside breakout of 2.1600 would call for 2.1100 and 2.0500.
Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Natural Gas (NYMEX) (AUG4) is trading above its 20 period moving average (2.3230) but under its 50 period moving average (2.3380).
Supports and resistances:
2.5600 **
2.5000 *
2.4100 **
2.3700
2.3340 last
2.2200
2.1600 **
2.1100 *
2.0500 **
Our preference: short term rebound.
Alternative scenario: the downside breakout of 2.1600 would call for 2.1100 and 2.0500.
Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Natural Gas (NYMEX) (AUG4) is trading above its 20 period moving average (2.3230) but under its 50 period moving average (2.3380).
Supports and resistances:
2.5600 **
2.5000 *
2.4100 **
2.3700
2.3340 last
2.2200
2.1600 **
2.1100 *
2.0500 **
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