Natural gas Wave Analysis – 8 May, 2020
May 08, 2020 @ 17:46 +03:00
- Natural gas falling inside impulse wave (3)
- Likely to fall to 1.700
Natural gas has been falling in the last few trading sessions inside the medium-term downward impulse wave (3), which started previously from the key resistance level 2.1.
The downward reversal from the resistance level 2.1 created the well-formed daily Japanese candlestick reversal pattern Evening Star.
Natural gas is expected to fall further toward the next support level 1.700 (former strong support level from April).