Natural Gas (NYMEX) (JUL5) intraday: target 3.3800

Our pivot point stands at 3.7800.

Our preference: target 3.3800.

Alternative scenario: the upside breakout of 3.7800, would call for 3.9300 and 4.0200.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Natural Gas (NYMEX) (JUL5) is trading under its 20 period moving average (3.6830) but above its 50 period moving average (3.6430).

Supports and resistances:

4.0200 **

3.9300 *

3.7800 **

3.7200

3.6650 last

3.4600

3.3800 **