NATURAL GAS

With technical conditions supporting the strength in #NG, then in the near term there is potential to test the nearest resistance level.

Key Levels

1. Resistance. 2 : 3.032

2. Resistance. 1 : 2.995

3. Pivot : 2.945

4. Support. 1 : 2.908

5. Support. 2 : 2.858

Tactical Scenario

Positive Reaction Zone: If the price breaks out above 2.995, there is a likelihood of a move up toward 3.032.

Momentum Extension Bias: If 3.032 is also breached, there is potential to continue strengthening to 3.082.

Invalidation Level / Bias Revision

The upside bias weakens if the price falls below 2.858.

Technical Summary

EMA(50) : 2.966

EMA(200): 2.897

RSI(14) : 68.43

Economic News Release Agenda:

In addition to the first day of the G7 meeting schedule, the United States will release the following economic data:

US - NAHB Housing Market Index - 21:00 WIB

US - TIC Long-Term Purchases - 03:00 WIB