Natural gas Wave Analysis – 23 November, 2022

• Natural gas broke resistance level 7.230

• Likely to rise to resistance level 8.160

Natural gas recently broke above the resistance level 7.230 (which has been reversing the price from the start of October), intersecting with the 50% Fibonacci correction of the downward impulse from September.

The breakout of the resistance level 7.230 accelerated the active short-term impulse wave (iii).

Natural gas can be expected to rise further toward the next resistance level 8.160 (top of wave (ii) from the end of September and the target for the completion of the active impulse wave (iii)).