Natural Gas (NYMEX) may rise to 2.8800 - 2.9900

(JUL4) intraday: short term rebound towards 2.8800

Our pivot point stands at 2.5900.

Our preference

Short term rebound towards 2.8800.

Alternative scenario

The downside breakout of 2.5900 would call for 2.5200 and 2.4500.

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) (JUL4) is trading under both its 20 and 50 period moving average (respectively at 2.7920 and 2.8020).

Supports and resistances

3.0600 **

2.9900 *

2.8800 **

2.8400

2.7920 last

2.6600

2.5900 **

2.5200 *

2.4500 **

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

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