Natural Gas (NYMEX) may rise to 2.1880 - 2.2980

(MAY4) ST: short term rebound towards 2.1880

Our pivot point stands at 1.6990.

Our preference

Short term rebound towards 2.1880.

Alternative scenario

Below 1.6990, expect 1.5150 and 1.4060.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. The price stands above its 20 day moving average (1.8430) but below its 50 day moving average (1.9630).

Supports and resistances

2.4080 **

2.2980 *

2.1880 **

2.0770

1.8470 last

1.7710

1.6990 **

1.5150 *

1.4060 **

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

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