Categories: Technical analysis

Natural Gas Wave Analysis – 16 April, 2020

  • Natural Gas falling inside impulse wave (3)
  • Likely to fall to 1.500

Natural Gas continues to fall inside the strong medium-term impulse wave (3) which stated earlier from the round resistance level 2.000, intersecting with the 200-day moving average.

The active impulse wave (3) belongs to medium-term downward impulse sequence from November of 2019.

Natural Gas is expected to fall further toward the next support level 1.500 (which stopped the earlier sharp downward impulse wave (1) in March).

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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