Categories: Technical analysis

Natural gas Wave Analysis – 25 July, 2022

• 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.

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.

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The FxPro Tech Analysis Team
Tags: natural Gas

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