Natural gas Wave Analysis – 14 August, 2020

• Natural gas broke key resistance level 2.27

• Likely to rise to 2.400

Natural gas today broke sharply above the key resistance level 2.27 (top of the previous sharp upward impulse wave (iii)).

The breakout of the resistance level 2.27 accelerated the C-wave of the active ABC correction (2) from the end of June.

Natural gas is likely to rise further toward the next resistance level 2.400 (target price for the completion of the active ABC correction (2)).