Natural gas Wave Analysis – 20 January, 2022
January 20, 2022 @ 19:37 +03:00
• Natural gas reversed from resistance area
• Likely to fall to support level 3.525
Natural gas recently reversed down from the resistance area set between the resistance level 4.4, upper daily Bollinger Band and the 50% Fibonacci correction of the downward price impulse from November.
The downward reversal from the resistance level 4.4 started the active intermediate corrective wave (2).
Natural gas can be expected to fall further toward the next support level 3.525 (previous monthly low from December and the target for the completion of the active wave (2)).