Natural gas Wave Analysis – 7 July, 2020

• Natural gas broke resistance level 1.824

• Likely to rise to 1.970

Natural gas recently broke above the key resistance level 1.824 (which reversed the price multiple times at the start of June).

The breakout of the resistance level 1.824 accelerated the active impulse wave (c) – which belongs to the ABC correction 2 from the round support level 1.500.                                                                                   Natural gas is likely to rise further toward the next resistance level 1.970 (former correction high from June and the forecast price for the completion of the active ABC correction 2).