Natural Gas Intraday: short term rebound

Jul 11, 2024 02:39
Natural Gas (NATGAS)
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 **
2.3340 last
2.1600 **
2.1100 *
2.0500 **

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.