Natural gas Wave Analysis – 30 December, 2021

• Natural gas reversed from resistance level 3.865

• Likely to fall to support level 3.512

Natural gas recently reversed down from the strong resistance level 3.865 (former strong support from July and August, top of the earlier minor correction (a) from the start of December).

The resistance zone near the resistance level 3.865 was strengthened by the upper daily Bollinger Band.

Given the overriding daily downtrend – Natural gas can be expected to fall further toward the next support level 3.512 (former monthly low from July).