Natural Gas Wave Analysis 23 September 2024

– Natural Gas rising inside impulse waves 3 and (3)

– Likely to reach resistance level 3.150

Natural Gas continues to rise inside the impulse waves 3 and (3), which recently broke the resistance area located between the key resistance level 2.600 and the 50% Fibonacci correction of the downward impulse from June.

The breakout of this resistance area accelerated the active impulse waves 3 and (3) – which belong to the primary impulse sequence 3 from the start of August.

Given the clear daily uptrend, Natural Gas can be expected to rise further to the next resistance level 3.150, former monthly high from May and June.