NATGAS Price Action Points to Downward Move
Natural Gas futures are showing signs of a potential move downwards, according to technical analysis. The market is currently trading on the 5.337 pivot level, with a bias towards a bearish trend.
The Supper Trend indicator has generated a clear short signal, while the Pivot Point HL is determining the overall bearish trend of the market. This combination suggests that the price may continue to fall.
The target for this move is set at 5.198, with a recommended stop-loss level of 5.408. It's essential to keep in mind that pivot points work best when combined with other technical analysis tools.