NATURAL GAS

With RSI(14) indicator position in the Neutral-Bullish area and both EMAs which forming a Golden Cross, then there is potential for #NG to test its nearest resistance level.

Key Levels

1. Resistance. 2 : 3.053

2. Resistance. 1 : 2.992

3. Pivot : 2.873

4. Support. 1 : 2.812

5. Support. 2 : 2.693

Tactical Scenario

Positive Reaction Zone: If #NG holds and does not break below 2.873, Natural Gas may move up toward 2.992.

Momentum Extension Bias: If 2.992 is broken out to the upside, there is potential to test 3.053.

Invalidation Level / Bias Revision

The upside bias weakens if price falls below 2.693.

Technical Summary

EMA(50) : 2.871

EMA(200): 2.805

RSI(14) : 64.23

Economic News Release Agenda:

Today the United States will release the following economic data:

US - NFIB Small Business Index - 17:00 WIB

US - ADP Weekly Employment Change - 19:15 WIB

US - Core CPI m/m - 19:30 WIB

US - CPI m/m - 19:30 WIB

US - CPI y/y - 19:30 WIB

US - 10-y Bond Auction - 00:01 WIB

US - Federal Budget Balance - 01:00 WIB

US - API Weekly Statistical Bulletin - 03:30 WIB