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[Natural Gas]
With technical indicators condition indicating a weakening trend, Natural Gas has the potential to decline today.
Key Levels
1. Resistance. 2 : 5.325
2. Resistance. 1 : 5.091
3. Pivot : 4.971
4. Support. 1 : 4.737
5. Support. 2 : 4.617
Tactical Scenario:
Pressure Zone: If the price breaks down below 4.737, #NG will test 4.617.
Momentum Extension Bias: If 4.617 is also broken, Natural Gas could continue its decline down to 4.383.
Invalidation Level / Bias Revision:
The downside bias is held if the price of Natural Gas unexpectedly strengthens and breaks above 5.325.
Technical Summary:
EMA(50) : 4.968
EMA(200): 4.996
RSI(14) : 30.05
Economic News Release Agenda:
From the United States, the following economic data will be released today:
US - NFIB Small Business Index - 18:00 WIB
US - ADP Weekly Employment Change - Tentative
US - JOLTS Job Openings - 22:00 WIB
US - CB Leading Index m/m - 22:00 WIB
US - 10-y Bond Auction - 01:00 WIB
US - API Weekly Statistical Bulletin - 04:30 WIB
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