Natural Gas

With a Golden Cross condition on both EMAs, then today #NG has the potential to test its nearest resistance level.

Key Levels

1. Resistance. 2 : 2.766

2. Resistance. 1 : 2.721

3. Pivot : 2.696

4. Support. 1 : 2.651

5. Support. 2 : 2.626

Tactical Scenario

Positive Reaction Zone: If the price breaks out above 2.696, there is potential to move up toward 2.721.

Momentum Extension Bias: If 2.721 is broken to the upside, #NG may test 2.766.

Invalidation Level / Bias Revision

The upside bias weakens when price falls below 84.40.

Technical Summary

EMA(50) : 2.692

EMA(200): 2.671

RSI(14) : 30.70

Economic News Release Agenda:

Today the United States will release the following economic data:

US - ADP Weekly Employment Change - 19:15 WIB

US - Core Retail Sales m/m - 19:30 WIB

US - Retail Sales m/m - 19:30 WIB

US - Pending Home Sales m/m - 21:00 WIB

US - Business Inventories m/m - 21:00 WIB

US - API Weekly Statistical Bulletin - 03:30 WIB