• Natural Gas reversed from support area
• Further gains are likely
Natural Gas recently reversed up from the support area lying between the pivotal support level 2.870 (which has been reversing the price from May), upper trendline of the recently broken up channel from February, 200-day moving average and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which continued the active impulse wave 3.
Natural Gas is likely to rise further and re-test the next resistance level 3.035 (which reversed the price earlier this month).