[Natural Gas]
Although the RSI is in the Neutral-Bullish level, but with the position of both EMAs forming a Death Cross gives an opportunity for #NG to weaken today.
Key Levels:
1. Resistance. 2 : 4.500
2. Resistance. 1 : 4.435
3. Pivot : 4.334
4. Support. 1 : 4.269
5. Support. 2 : 4.168
Tactical Scenario:
Pressure Zone: If the price of #NG breaks down and closes below 4.334, it may continue to weaken toward 4.269.
Momentum Extension Bias: If 4.269 is breached as well, #NG may continue its decline down to 4.168.
Invalidation Level / Bias Revision:
The downside bias is held if Natural Gas strengthens and breaks above 4.500.
Technical Summary:
EMA(50) : 4.360
EMA(200): 4.419
RSI(14) : 58.15
Economic News Release Agenda:
Tonight, the following economic data will be released from the U.S. market session:
US - Trade Balance - 20:30 WIB
US - Crude Oil Inventories - 22:30 WIB
