Categories: Technical analysis

Natural Gas Wave Analysis – 04 November, 2019

  • Natural Gas broke key resistance level 2.720
  • Likely to rise to 3.000

Natural Gas recently broke above the key resistance level 2.720 (former monthly high from September and May) – which accelerated the active impulse waves 3 and (C).

The price is currently trading close to the resistance level 2.875 (top of the previous waves A and (4) from March)

Natural Gas is expected to rise further and retest the next resistance level – 3.000 (target price for the completion of the active impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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