Categories: Technical analysis

Natural Gas Wave Analysis – 13 December , 2018

  • Natural Gas reversed from support area
  • Further gains are likely

Natural Gas continues to rise after the earlier upward reversal from the support area lying between the round support level 4.000 (which has been reversing the price from the middle of November), 38.2% Fibonacci correction of the upward impulse from September and the lower weekly Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse wave (c) of the ABC correction 4 from the start of November.

Natural Gas is expected to rise further and re-test the next resistance level 4.400 (lying midway between the aforementioned support level 4.000 and 4.800 (strong resistance from November

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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The FxPro Tech Analysis Team
Tags: NTGUSD

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