NATURAL GAS
With technical conditions supporting the strength in #NG, then in the near term there is potential to test the nearest resistance level.
Key Levels
1. Resistance. 2 : 3.032
2. Resistance. 1 : 2.995
3. Pivot : 2.945
4. Support. 1 : 2.908
5. Support. 2 : 2.858
Tactical Scenario
Positive Reaction Zone: If the price breaks out above 2.995, there is a likelihood of a move up toward 3.032.
Momentum Extension Bias: If 3.032 is also breached, there is potential to continue strengthening to 3.082.
Invalidation Level / Bias Revision
The upside bias weakens if the price falls below 2.858.
Technical Summary
EMA(50) : 2.966
EMA(200): 2.897
RSI(14) : 68.43
Economic News Release Agenda:
In addition to the first day of the G7 meeting schedule, the United States will release the following economic data:
US - NAHB Housing Market Index - 21:00 WIB
US - TIC Long-Term Purchases - 03:00 WIB
