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FxPro Forex Analysis: Natural Gas Wave Analysis – June 13, 2018

• Natural gas reversed from support area
• Likely to rise further

Natural gas recently reversed up from the support area lying between key support level 2.870 (which also reversed the price in May), 200-day moving average, upper trendline of the recently broken up channel from February and the 38.2% Fibonacci correction of the previous upward impulse (i) from the start of May.

The upward reversal from this support area started the active short-term impulse wave (iii) – which belongs to the impulse wave 3 from the start of May.

Natural gas is likely to rise further and re-test the next strong resistance level 2.980 (which has been repeatedly reversing the price from the end of May).

NTGUSD - Primary Analysis - Jun-13 1546 PM (1 day)

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