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FX.co ★ Natural Gas has the potential to weaken today toward its nearest support level.

Natural Gas has the potential to weaken today toward its nearest support level.

[Natural Gas]

With all technical conditions pointing to weakness, then #NG has the potential to continue its decline toward the nearest support level.

Key Levels

1. Resistance. 2 : 3.753

2. Resistance. 1 : 3.579

3. Pivot : 3.484

4. Support. 1 : 3.310

5. Support. 2 : 3.215

Tactical Scenario

Pressure Zone: If the price breaks down below 3.310, there is potential pressure toward 3.215.

Momentum Extension Bias: If 3.215 is also broken to the downside, #NG may move toward 3.041.

Invalidation Level / Bias Revision

The downside bias is restrained if the price strengthens and breaks above 3.753.

Technical Summary

EMA(50) : 3.411

EMA(200): 3.580

RSI(14) : 25.70

Economic News Release Agenda:

Tonight there are no economic data releases from the United States.

Natural Gas has the potential to weaken today toward its nearest support level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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