Categories: Technical analysis

Natural gas Wave Analysis – 20 July, 2020

• Natural gas falling inside impulse wave (iii)

• Likely to reach 1.600

Natural gas continues to fall inside the short-term impulse wave (iii) – which belongs to longer-term impulse sequence 3 from the start of July.

The price earlier broke below the support level 1.650 (low of the (b) of the previous sharp ABC correction 2 from last month) – which accelerated the active wave 3.

Natural gas is likely to fall further toward the next support level 1.600 (target price for the completion of the active minor impulse wave (iii)).

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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