Technical analysis

Natural gas Wave Analysis – 27 August, 2021

• Natural gas broke key resistance level 4.2000

• Likely to rise to resistance level 4.600

Natural gas continues to rise after the price broke above the key resistance level 4.2000 (which stopped the pervious sharp impulse wave 1 at the start of August).

The breakout of the resistance level 4.2000 accelerated the active medium-term impulse wave (3).

Given the predominant daily uptrend, Natural gas can be expected to rise further toward the next resistance level 4.600 (target for the completion of wave (3), intersecting with the daily up channel from May).

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