Technical analysis

Natural Gas Wave Analysis – 05 November , 2018

  • Natural Gas broke key resistance level 3.330
  • Further gains are likely

Natural Gas opened this week with the upward gap which broke through the powerful resistance level 3.330 (which stopped the two previous waves (iii) and (b) in October – as can be seen below).

The breakout of this resistance level continues the active short-term impulse wave 3 – which belongs to the extended, medium-term impulse wave (3) from February.

Natural Gas is expected to rise further and re-test the next resistance level 3.550 (target price calculated for the completion of the active impulse wave 3).

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