Natural Gas (NYMEX) (NOV5) intraday: under pressure below 3.1100

Our pivot point is at 3.1100.

Our preference: under pressure below 3.1100.

Alternative scenario: above 3.1100, look for 3.2400 and 3.3100.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Natural Gas (NYMEX) (NOV5) is trading under both its 20 and 50 period moving average (respectively at 3.0230 and 3.0510).

Supports and resistances:

3.3100 **

3.2400 *

3.1100 **

3.0600

3.0140 last

2.8600

2.7900 **