Market Snapshots

Natural gas Wave Analysis – 30 July, 2020

Natural gas Wave Analysis – 30 July, 2020

• Natural gas reversed from resistance zone

• Likely to fall to 1,8750

Natural gas recently reversed down from the key resistance zone lying between the resistance level 1,965 (which has been reversing the price from May), upper daily Bollinger Band and the 61,8% Fibonacci correction of the previous downward impulse 1 from May.

The downward reversal from this resistance zone stopped the earlier short-term impulse wave (c).

Natural gas is likely to correct down to the next support level 1,8750 (former minor resistance from last week).

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