Categories: Technical analysis

Natural gas Wave Analysis – 20 July 2023

– Natural gas rising inside sideways price range

– Likely to rise to resistance level 2.915

Natural gas continues to rise inside the narrow extended sideways price range from the start of this year (enclosed by the price levels 2.224 and 2.915).

The price earlier reversed up from the support level 2.500 continuing the active impulse waves iii and 1.

Given approaching end of summer and the strength of the lower boundary of this price range, 2.224, Natural gas can be expected to soon test the upper border of this price range, 2.915.

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.

Share
Published by
The FxPro Tech Analysis Team

Recent Posts

Pro News Video: Dollar Surges, GBP & EUR Under Pressure, Crypto Hits New Heights

This week, we’re tracking the US Dollar’s powerful climb following Trump's victory, hitting a crucial…

2 days ago

Key Events for the Week From November 18th

Next week, several countries including Canada, the UK, and Japan will release their estimates of…

2 days ago

A Heavy Gold: Investors Taking Profits

Investors have been selling off gold, with this week's drop being the largest in three…

2 days ago

Hang Seng meltdown

The Hang Seng Index has fallen 20% from its peak, marking the start of a…

2 days ago

SP500 quiet correction

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…

2 days ago

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

2 days ago

This website uses cookies