Natural Gas Wave Analysis – 27 September, 2019

Natural Gas falling inside weekly wave B
Likely to fall to 2.200

Natural Gas has been under bearish pressure this week – after the earlier downward reversal from the resistance area lying between the resistance level 2.670 and the upper weekly Bollinger Band.

This resistance area was also strengthened by the 38.2% Fibonacci correction of the previous weekly impulse wave from January.

Natural is expected to fall further and retest the next support level 2.200 (target price calculated for the completion of the active wave B).

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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