Market Snapshots

Natural Gas Wave Analysis – 04 February, 2019

  • Natural Gas broke support area
  • Further losses are likely

Natural Gas recently broke through the support area lying between the support levels 2.820 (monthly low from January) and 2.690 (which reversed the price in last July and September).

The breakout of this support area should accelerate the active medium-term impulse wave (3) from the middle of January.

Natural Gas is expected to fall further and re-test the next support level 2.4000 (target price for the completion of the active impulse wave 3).

Source: FxPro

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