Natural gas Wave Analysis – 10 June, 2021

• Natural gas reversed from resistance zone

• Likely to fall to support level 3.100

Natural gas recently reversed down from the resistance zone lying between the key resistance level 3.200 (which has been reversing the price from November) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the previous short-term impulse wave (iii) from the end of May.

Given the overbought daily Stochastic – Natural gas can then be expected to fall further toward the next support level 3.100.