Natural gas Wave Analysis – 13 May, 2020

• Natural gas broke round support level 1.700

• Likely to fall to 1.583

Natural gas continues to fall in line with our earlier report for this instrument. The price today broke the round support level 1.700 – which should strengthen the bearish reassure on Natural gas.

The breakout of the level 1.700 continues the active short-term impulse wave 1 – which belongs to the medium-term downward impulse sequence (3) from the start of May.

Natural gas is expected to fall further toward the next support level 1.583 (low of the sharp daily Hammer from last month).]