Natural gas Wave Analysis – 25 July, 2022
July 25, 2022 @ 18:21 +03:00
• Natural gas broke resistance level 7.960
• Likely to rise to resistance level 9.000
Natural gas recently broke through the resistance level 7.960 (top of the previous wave (iv) from the middle of June) intersecting with the 61.8% Fibonacci correction of the earlier downward correction (B) from last month.
The breakout of the resistance level 7.960 accelerated the active intermediate impulse wave (C).
Given the clear daily uptrend, Natural gas can be expected to rise further toward the next round resistance level 9.000.