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Analysis

Natural Gas (NYMEX) may rise to 3.0970 - 3.2370

BY Trading Central

|May 22, 2024

(JUN4) ST: the upside prevails as long as 2.4390 is support

 (JUN4) ST: the upside prevails as long as 2.4390 is support

Our pivot point is at 2.4390.

Our preference

The upside prevails as long as 2.4390 is support.

Alternative scenario

The downside breakout of 2.4390 would call for 2.2090 and 2.0720.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. The price is trading above both its 20 and 50 day moving average (respectively at 2.2750 and 2.1310).

Supports and resistances

3.3770 **

3.2370 *

3.0970 **

2.9580

2.6270 last

2.5290

2.4390 **

2.2090 *

2.0720 **

Number of asterisks represents the strength of support and resistance levels.

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