Technical analysis

Natural Gas Wave Analysis – 07 May, 2019

Natural Gas Wave Analysis – 07 May, 2019
  • Natural Gas reversed from support area
  • Further gains are likely

Natural Gas recently reversed up from the support area lying between the multi-month  support level 2.540 and the lower weekly Bollinger Band.

The upward reversal from this support area stopped the previous medium-term impulse wave (5) from March.

Given the oversold reading on the weekly Stochastic indicator – Natural Gas is expected to rise further and re-test the next resistance level 2.643.

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