Although sellers remains quite dominant, the appearance of a Bullish Divergence gives an opportunity for Natural Gas to strengthen

[Ben Graham]

[Natural Gas]

Although EMAs have not yet formed a Golden Cross, but the appearance of a Bullish Divergence on RSI(14) indicates there is a potential for strength in #NG in the near term.

Key Levels

1. Resistance. 2 : 3.565

2. Resistance. 1 : 3.459

3. Pivot : 3.325

4. Support. 1 : 3.219

5. Support. 2 : 3.085

Tactical Scenario

Positive Reaction Zone: If the price holds above 3.325, #NG may rise toward 3.459.

Momentum Extension Bias: If 3.459 is broken, Natural Gas could test 3.565.

Invalidation Level / Bias Revision

The upside bias weakens if Natural Gas falls and breaks below 3.085.

Technical Summary

EMA(50) : 3.317

EMA(200): 3.396

RSI(14) : 51.96 + Bullish Divergent

Economic News Release Agenda:

Tonight from the United States the following economic data will be released:

US - NFIB Small Business Index - 18:00 WIB

US - ADP Weekly Employment Change - Tentative

US - Core CPI m/m - 20:30 WIB

US - CPI m/m - 20:30 WIB

US - CPI y/y - 20:30 WIB

US - New Home Sales - 22:00 WIB

US - RCM/TIPP Economic Optimism - Tentative

US - 30-y Bond Auction - 01:01 WIB

US - Federal Budget Balance - 02:00 WIB

US - API Weekly Statistical Bulletin - 04:30 WIB

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