Natural gas Wave Analysis – 9 June, 2022

• Natural gas reversed from resistance level 9.500
• Likely to fall to support level 7.95

Natural gas recently reversed down with the daily Evening Star Doji from the key resistance level 9.500 (top of wave (iii) from May).

The downward reversal from the resistance level 9.500 started the active minor impulse wave (c).

Given the bearish divergence on the daily Momentum indicator, Natural gas can be expected to fall further toward the next support level 7.95 (low of wave (ii)).