Natural gas Wave Analysis 7 December, 2020

• Natural gas broke support level 2.515

• Likely to fall to 2.354

Natural gas continues to fall inside the sharp downward impulse wave (C) – which previously broke the key support level 2.515 (which stopped the (A)-wave in the middle of November).

The breakout of the support level 2.515 was preceded by the breakout of the 50% Fibonacci correction of the upward impulse from September.

Natural gas is expected to fall further toward the next support level 2.354 (monthly low from October) – followed by 2.200.\