• Natural Gas reversed from support zone
• Likely to rise further
Natural Gas recently reversed up from the support zone lying between the multi-month support level 2.690 (which also reversed the price at start of May, as can be seen below), 61.8% Fibonacci correction of the upward impulse (1) and the lower daily Bollinger Band.
The upward reversal from this support zone started the active medium-term impulse wave (3) which belongs to the long-term impulse wave ③.
Natural Gas is likely to rise further and re-test the next resistance level 2.800 (former support from the start of July).