Natural gas Wave Analysis 21 September, 2020

• Natural gas broke support zone

• Likely to fall to 1.800

Natural gas today broke the support zone set between the support level 1.92 (former resistance from July) and the 61.8% Fibonacci correction of the sharp upward impulse C from July.

The breakout of this support zone is likely to accelerate the active impulse waves (iii) and 3 – which belong to wave (3) from last month.

Natural gas is expected to fall further toward the next support level 1.800 (target price for the termination of the active impulse waves (iii) and 3).