Natural Gas (NYMEX) (JUL5) intraday: the upside prevails as long as 3.6200 is support

Our pivot point is at 3.6200.

Our preference: the upside prevails as long as 3.6200 is support.

Alternative scenario: below 3.6200, expect 3.4700 and 3.3800.

Comment: the RSI is above 70. It could mean either that prices are in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Natural Gas (NYMEX) (JUL5) is above its 20 and 50 period moving average (respectively at 3.7290 and 3.6970).

Supports and resistances:

4.2700 **

4.1800 *

4.0800 **

3.9900

3.7550 last

3.6800

3.6200 **