Natural gas Wave Analysis – 21 October, 2022

• Natural gas falling inside impulse wave (c)

• Likely to fall to support level 5.365

Natural gas continues to fall inside the short-term impulse wave (c) which previously broke the support level 6.500 (which stopped wave (i) in September) and the 61.8% Fibonacci correction of the upward price move from January.

The active impulse wave (c) belongs to the ABC correction 2 from the middle of August.

Natural gas can be expected to fall further toward the next support level 5.365 (previous multi-month low from July and the target for the completion of the active impulse wave (c)).