[Natural Gas]
Although the RSI(14) is in the Neutral-Bullish level, but with the the Death Cross condition between EMA(50) and EMA(200) indicates that Natural Gas has the potential to weaken toward its nearest support level today.
Key Levels
1. Resistance. 2 : 4.318
2. Resistance. 1 : 4.156
3. Pivot : 3.977
4. Support. 1 : 3.815
5. Support. 2 : 3.636
Tactical Scenario:
Pressure Zone: If the price of #NG breaks down below 3.815, it may continue to weaken down to 3.636.
Momentum Extension Bias: If 3.636 is broken, there is a potential for Natural Gas to test 3.474.
Invalidation Level / Bias Revision:
The downside bias is restrained if the price of Natural Gas unexpectedly strengthens and breaks above 4.318.
Technical Summary:
EMA(50) : 3.987
EMA(200): 4.023
RSI(14) : 50.84
Economic News Release Agenda:
Tonight, when the U.S. market session opens, the following economic data will be released:
US - ADP Weekly Employment Change - Tentative
US - Prelim GDP q/q - 20:30 WIB
US - Core Durable Goods Orders m/m - 20:30 WIB
US - Durable Goods Orders m/m - 20:30 WIB
US - Prelim GDP Price Index q/q - 20:30 WIB
US - Capacity Utilization Rate - 21:15 WIB
US - Industrial Production m/m - 21:15 WIB
US - CB Consumer Confidence - 22:00 WIB
US - Richmond Manufacturing Index - 22:00 WIB
US - API Weekly Statistical Bulletin - 04:30 WIB
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