Natural Gas still has the potential to strengthen today.

[Ben Graham]

[Natural Gas]

There is potential for #NG to strengthen today toward its nearest resistance level.

Key Levels

1. Resistance. 2 : 8.276

2. Resistance. 1 : 7.396

3. Pivot : 6.561

4. Support. 1 : 5.681

5. Support. 2 : 4.846

Tactical Scenario

Positive Reaction Zone: If the price holds at 6.561, it may move up toward 7.396.

Momentum Extension Bias: If 7.396 is broken, there is potential to test 8.276.

Invalidation Level / Bias Revision

The upside bias weakens when price falls below [support] (further assessment if below [reassessment trigger]).

Technical Summary

EMA(50) : 6.305

EMA(200): 5.338

RSI(14) : 54.96

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - ADP Weekly Employment Change - Tentative

US - HPI m/m - 21:00 WIB

US - S&P/CS Composite-20 HPI y/y - 21:00 WIB

US - CB Consumer Confidence - 22:00 WIB

US - Richmond Manufacturing Index - 22:00 WIB

US - API Weekly Statistical Bulletin - 04:30 WIB

The material has been provided by InstaForex Company - www.instaforex.com