Technical analysis

Natural gas Wave Analysis – 8 September, 2021

• Natural gas broke major resistance area

• Likely to rise to resistance levels 5.0 and 5.2

Natural gas earlier broke through the major resistance area located between the multi-year resistance level 4.895 (which started the sharp downtrend at the end of 2018) and the resistance trendline of the weekly up channel from April.

The breakout of this resistance area is aligned with the active sharp upward impulse waves 5 and (C).

If the price closes today above 4.895, Natural gas can be expected to rise further toward the next resistance levels 5.0 and 5.2.

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