Natural gas Wave Analysis – 25 October, 2021

• Natural gas broke daily down channel

• Likely to rise to resistance level 6.3                                                                        

Natural gas continues to rises strongly after the price broke the daily down channel from the start of October (which enclosed the previous ABC correction (4)).

The breakout of this down channel accelerated the active medium-term impulse wave (5).

Given the sharp daily uptrend, Natural gas can be expected to rise further toward the next resistance level 6.3 (which stopped the previous impulse wave (iii) in September).