Natural gas Wave Analysis – 2 December, 2022

• Natural gas broke daily up channel

• Likely to fall to support level 6.0000

Natural gas under the bearish pressure after the earlier breakout of the support trendline of the daily up channel from October.

The breakout of this up channel accelerated the active short-term corrective wave (ii) from the end of November.

Given the clear daily downtrend, Natural gas can be expected to fall further toward the next round support level 6.0000 (target for the completion of the active wave (ii)).