Natural gas Wave Analysis – 03 August, 2020
August 03, 2020 @ 17:02 +03:00
• Natural gas broke resistance area
• Likely to rise to 2.050
Natural gas recently broke the resistance area located between the resistance level 1.917 (monthly double top from June) and the 61.8% Fibonacci correction level of the previous downward price impulse from May.
The breakout of this resistance zone accelerated the active short-term impulse wave (c).
Natural gas is expected to rise further toward the next resistance level 2.050 (target price for the completion of the active impulse wave (c)). Alternatively – the price can retest the support at 1.917.