Natural gas Wave Analysis 19 November, 2020

• Natural gas broke pivotal support level 2.655

• Likely to fall to 2.4000

Natural gas recently broke sharply below the pivotal support level 2.655 (which stopped the previous minor corrective wave (b) in the middle of October).

The breakout of the support level 2.655 coincided with the breakout of the 50% Fibonacci correction level of the previous sharp upward impulse from September.

Natural gas is likely to fall in the active impulse wave (C) toward the next support level 2.4000 (which stopped the previous minor correction 4).