Technical analysis

Natural Gas rising inside impulse wave (iii)

  • Natural Gas rising inside impulse wave (iii)
  • Further gains are likely

Natural Gas continues to rise inside the short-term impulse wave (iii), which started earlier from the support area located between the key support level 3.100 (which also reversed the previous wave (iv)), upper trendline of the recently broken daily up channel from July and the 61.8% Fibonacci correction of the upward impulse from September.

The active impulse wave (iii) belongs to the impulse 3 of the medium-term impulse wave (3) from the middle of July.

Natural Gas is expected to rise further and re-test the next strong resistance level 3.350 (which stopped the previous impulse wave (i)).

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