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April 26, 2022 @ 14:38 +03:00
• Natural gas reversed from support zone
• Likely to rise to resistance level 7.50
Natural gas recently reversed up from the powerful support zone located between the pivotal support 6.50 (former multi-month high from October of 2021), 20-day moving average, upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse from February
The upward reversal from this support zone stopped the earlier minor corrective wave 2.
Given the clear daily uptrend – Natural gas can be expected to rise further toward the next resistance level 7.50.