Categories: Technical analysis

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).

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
Tags: NTGUSD

Recent Posts

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

11 hours ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

11 hours ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

20 hours ago

Cooler Bitcoin

Market picture  Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…

24 hours ago

GBPCAD Wave Analysis 25 April 2024

- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…

2 days ago

GBPAUD Wave Analysis 25 April 2024

- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…

2 days ago

This website uses cookies