Natural gas Wave Analysis 14 December, 2020

• Natural gas rising inside impulse wave (3)

• Likely to reach resistance level 2.800

Natural gas continues to rise inside the medium-term upward impulse wave (3) which started earlier from the key support level 2.355 (former monthly low from October) – intersecting with the daily down channel from November.

The support zone near the support level 2.355 was further strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from September.

Natural gas is expected to rise further toward the next resistance level 2.800 (coinciding with the aforementioned down channel from November).