Technical analysis

Natural gas Wave Analysis 17 May, 2021

• Natural gas broke round resistance level 3.000

• Likely to rise to resistance level 3.265

Natural gas continues to rise strongly after it broke above the round resistance level 3.000 – which is the upper border of the narrow sideways price range from the end of April.

The breakout of the resistance level 3.000 accelerated the active short-term upward impulse wave (iii).

Natural gas is likely to rise further toward the next resistance level 3.265 (top of the previous impulse wave 1 from March and the target for the completion of the active impulse wave (iii)).

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