Natural Gas (NYMEX) may rise to 2.3700 - 2.4600

(OCT4) intraday: short term rebound towards 2.3700

Our pivot point stands at 2.1200.

Our preference

Short term rebound towards 2.3700.

Alternative scenario

The downside breakout of 2.1200 would call for 2.0700 and 2.0100.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Natural Gas (NYMEX) (OCT4) stands below its 20 and 50 period moving average (respectively at 2.2960 and 2.3130).

Supports and resistances

2.5200 **

2.4600 *

2.3700 **

2.3300

2.2940 last

2.1800

2.1200 **

2.0700 *

2.0100 **

Number of asterisks represents the strength of support and resistance levels.

© 2024 Trading Central. All Rights Reserved. The information contained herein: (1) is proprietary to Trading Central and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely; and, (4) does not constitute advice or a recommendation by TIO Markets Ltd, Trading Central or its content providers in respect of the investment in financial instruments. Neither TIO Markets Ltd nor Trading Central nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Pricing, historical chart data and fundamental company data are provided by Morningstar Research Inc.

Technical Event® is a registered trademark of Trading Central.

Trading Central products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.

Join us on social media

Trading Central

Related Posts

Analysis

Silver may fall to 26.40 - 28.60

ST: under pressure. Pivot 33.10 Our preference Short positions below 33.10 with targets at 28.60 & 26.40 in extension. Alternative scenario Above 33.10 look for further upside with 34.8...

Analysis

Weekly market analysis from 2nd December

This week’s economic calendar is packed with key data releases and events that could drive market volatility across forex, commodities, and equities. The highlight was U.S. economic indicator...

Analysis

GBP/USD may fall 27 - 47 pips

Intraday: the downside prevails. Pivot 1.2670 Our preference Short positions below 1.2670 with targets at 1.2615 & 1.2595 in extension. Alternative scenario Above 1.2670 look for furthe...

Analysis

Gold may rise to 2668.00 - 2688.00

Intraday: further upside. Pivot 2642.00 Our preference Long positions above 2642.00 with targets at 2668.00 & 2688.00 in extension. Alternative scenario Below 2642.00 look for further d...