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Natural Gas (NYMEX) may rise to 2.5570 - 2.6730
BY Trading Central
|August 21, 2024(SEP4) ST: short term rebound
2.0400 is our pivot point.
Our preference
Short term rebound.
Alternative scenario
Below 2.0400, expect 1.8460 and 1.7300.
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. The price stands above its 20 day moving average (2.1050) but below its 50 day moving average (2.3690).
Supports and resistances
2.7900 **
2.6730 *
2.5570 **
2.4410
2.1990 last
2.1160
2.0400 **
1.8460 *
1.7300 **
Number of asterisks represents the strength of support and resistance levels.
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