Categories: Technical analysis

Natural gas Wave Analysis – 15 April, 2022

• Natural gas in a strong uptrend
• Likely to test resistance level 8.0000

Natural gas has been rising strongly in the last few trading sessions following the breakout of the key resistance level 6.50 (former multi-month high from last October).

The breakout of the resistance level 6.50 coincided with the breakout of the two different lengths up channels from March and January.

Natural gas can be expected to rise toward the next resistance level 8.0000 (target price for the completion of the active impulse wave (3)).

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: natural Gas

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