Technical analysis

NTGUSD Wave Analysis – 18 December, 2019

NTGUSD Wave Analysis – 18 December, 2019
  • Natural Gas reversed from resistance area
  • Likely to fall to 2.155

Natural Gas recently reversed down from the resistance area lying between the resistance level 2.300 (former strong support from October) and the 38.2% Fibonacci correction of the previous downward impulse 3 from November.

The downward reversal from this resistance area started the active short-term impulse wave 5 – which belong to the medium-term impulse sequence (C) from last month.

Natural Gas is expected to fall further toward the next support level 2.155 (low of the previous impulse wave 3).

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