Categories: Technical analysis

Natural gas Wave Analysis – 9 December, 2022

• Natural gas reversed from strong support level 5.350

• Likely to rise to resistance level 6.5000

Natural gas recently reversed up from the strong support level 5.350 (which has been repeatedly reversing the price from the start of July) – intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 5.350 created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which started the active minor correction 2.

Natural gas can be expected to rise further toward the next resistance level 6.5000 (former strong support from the middle of November).

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.

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The FxPro Tech Analysis Team
Tags: natural Gas

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