Natural gas Wave Analysis – 03 August, 2020

• Natural gas broke resistance area

• Likely to rise to 2.050

Natural gas recently broke the resistance area located between the resistance level 1.917 (monthly double top from June) and the 61.8% Fibonacci correction level of the previous downward price impulse from May.

The breakout of this resistance zone accelerated the active short-term impulse wave (c).

Natural gas is expected to rise further toward the next resistance level 2.050 (target price for the completion of the active impulse wave (c)). Alternatively – the price can retest the support at 1.917.