Categories: Technical analysis

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).

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

Recent Posts

Hang Seng meltdown

The Hang Seng Index has fallen 20% from its peak, marking the start of a…

45 mins ago

SP500 quiet correction

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…

1 hour ago

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

4 hours ago

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

18 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

18 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

20 hours ago

This website uses cookies