Natural Gas (NYMEX) may rise to 2.3700 - 2.4600

(OCT4) intraday: short term rebound towards 2.3700

Our pivot point stands at 2.1200.

Our preference

Short term rebound towards 2.3700.

Alternative scenario

The downside breakout of 2.1200 would call for 2.0700 and 2.0100.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Natural Gas (NYMEX) (OCT4) stands below its 20 and 50 period moving average (respectively at 2.2960 and 2.3130).

Supports and resistances

2.5200 **

2.4600 *

2.3700 **

2.3300

2.2940 last

2.1800

2.1200 **

2.0700 *

2.0100 **

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

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