Categories: Technical analysis

NTGUSD Wave Analysis – 18 December, 2019

  • Natural Gas reversed from resistance area
  • Likely to fall to 2.155

Natural Gas recently reversed down from the resistance area lying between the resistance level 2.300 (former strong support from October) and the 38.2% Fibonacci correction of the previous downward impulse 3 from November.

The downward reversal from this resistance area started the active short-term impulse wave 5 – which belong to the medium-term impulse sequence (C) from last month.

Natural Gas is expected to fall further toward the next support level 2.155 (low of the previous impulse wave 3).

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: NTGUSD

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