Natural Gas (NYMEX) (H1) intraday: short term rebo

Natural Gas (NYMEX) (H1) intraday: short term rebound towards 3.0500

NGAS

Trading Central 2021-02-23 12:40:05

Our pivot point is at 2.8900.

Our preference: short term rebound towards 3.0500.

Alternative scenario: the downside breakout of 2.8900 would call for 2.8400 and 2.8000.

Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Natural Gas (NYMEX) (H1) is trading above its 20 period moving average (2.9420) but under its 50 period moving average (2.9530).

Supports and resistances:

3.1200 **

3.0800 *

3.0500 **

3.0100

2.9440 last

2.9200

2.8900 **

Disclaimer

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