Natural gas Wave Analysis 1 April 2024

– Natural gas reversed from multi-month support level 1.541

– Likely to rise to resistance level 2.030

Natural gas recently reversed up from the multi-month support level 1.541, which reversed the price twice in the middle of 2020.

The support level 1.541 was strengthened by the lower weekly and the daily Bollinger Bands.

Given the strength of the support level 1.541 and the oversold weekly Stochastic, Natural gas can be expected to rise further to the next resistance level 2.030, former yearly low from last year.