Natural gas Wave Analysis – 8 May, 2020

• Natural gas falling inside impulse wave (3)
• Likely to fall to 1.700

Natural gas has been falling in the last few trading sessions inside the medium-term downward impulse wave (3), which started previously from the key resistance level 2.1.

The downward reversal from the resistance level 2.1 created the well-formed daily Japanese candlestick reversal pattern Evening Star.

Natural gas is expected to fall further toward the next support level 1.700 (former strong support level from April).