Natural Gas Wave Analysis – 25 May, 2020
May 25, 2020 @ 17:56 +03:00
• Natural Gas falling inside short-term impulse wave 3
• Likely to fall to 1,5920
Natural Gas continues to fall inside the short-term impulse wave 3, which started earlier when the price reversed down from the resistance level 1.873, intersecting with the 50% Fibonacci retracement of the previous sharp downward impulse wave 1 from the start of May.
The active impulse wave 3 belongs to the longer-term downward impulse sequence (3).
Natural Gas is likely to fall further toward the next support level 1,5920 (which reversed the two previous sharp waves (ii) and 1).