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)).