Technical analysis

Natural gas Wave Analysis – 25 June, 2021

• Natural gas broke long-term resistance level 3.435

• Likely to rise to resistance level 3.700

Natural gas previously broke through the major long-term resistance level 3.435, which stopped the previous sharp uptrend in October of 2020 as can be seen below.

The breakout of the resistance level 3.435 accelerated the active impulse waves 3 and (C).

Given the prevailing uptrend – Natural gas can be expected to rise further in the active impulse waves (iii), 3 and (C) toward the next resistance level 3.700 (target price for the completion of wave 3).

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