Natural Gas Wave Analysis – 29 July, 2019

• Natural Gas falling inside impulse wave 3
• Further losses are likely

Natural Gas continues to fall inside the sharp impulse wave 3, which previously broke below the key support level 2.1500 – which was set as the likely downward target in our previous forecast for this instrument.

The breakout of the support level 2.1500 should strengthen the bearish pressure on Natural Gas in the coming trading sessions.

Natural Gas is expected to fall further and retest the next round support level 2.000 (target for the completion of the active impulse wave 3).