Categories: Technical analysis

Natural gas Wave Analysis 12 October, 2020

• Natural gas broke key round resistance level 3.000

• Likely to reach 3.300

Natural gas recently broke above the key round resistance level 3.000 – which was followed today by the upward gap accelerating the active impulse waves 3 and (C).

The price also earlier broke through the key resistance level 2.900 (which has been reversing the price from 2019 -which added to the bullish pressure on Natural gas.

Natural gas is likely to rise further toward the next resistance level 3.300 (intersecting with the daily up channel from July).

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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Tags: NTGUSD

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