Natural Gas Wave Analysis – 27 March, 2020

• Natural Gas reversed from resistance area
• Likely to fall to 1.600

Natural Gas recently reversed down from the resistance area lying between the key resistance level 1.770 (former strong support from February) and the 38.2% Fibonacci retracement of the previous sharp downward impulse from March.

The downward reversal from the resistance area started the active short-term impulse wave 5.

Natural Gas is likely to fall toward the next major support level 1.600 (which stopped the 3 previous impulse waves earlier this month).