Categories: Technical analysis

Natural Gas Wave Analysis – 29 October, 2019

  • Natural Gas broke resistance area
  • Likely to rise to 2.700

Natural Gas recently broke resistance area lying between the resistance level 2.500, resistance trendline of the daily up channel from the start of October and the 61.8% Fibonacci correction of the previous impulse wave (1).

The breakout of this resistance area strengthened the bullish pressure on Natural Gas.

Natural Gas is expected to rise further and retest the next resistance level 2.700 (monthly high from May and September and the forecast price for the completion of wave (2)).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: NTGUSD

Recent Posts

Softer US Inflation is a good reason for the Fed’s cut

The US CPI slowdown provides a good reason to cut rates, reinforcing the doves' position…

3 hours ago

Natural Gas Wave Analysis – 12 March 2025

Natural gas: ⬇️ Sell - Natural gas reversed from round resistance level 5.0000 - Likely…

14 hours ago

Harley-Davidson Wave Analysis – 12 March 2025

Harley-Davidson: ⬇️ Sell - Harley-Davidson reversed from resistance level 27.35 - Likely to fall to…

14 hours ago

Brent crude oil Wave Analysis – 12 March 2025

Brent crude oil: ⬆️ Buy - Brent crude oil reversed from the pivotal support level…

15 hours ago

EURCAD Wave Analysis – 12 March 2025

EURCAD: ⬇️ Sell - EURCAD reversed from the resistance area - Likely to fall to…

15 hours ago

The crypto bounces back from extreme fear

The crypto market has experienced a slight rebound, with the total market value reaching $2.67…

1 day ago

This website uses cookies