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Natural Gas Wave Analysis – 29 October, 2019

  • Natural Gas broke resistance area
  • Likely to rise to 2.700

Natural Gas recently broke resistance area lying between the resistance level 2.500, resistance trendline of the daily up channel from the start of October and the 61.8% Fibonacci correction of the previous impulse wave (1).

The breakout of this resistance area strengthened the bullish pressure on Natural Gas.

Natural Gas is expected to rise further and retest the next resistance level 2.700 (monthly high from May and September and the forecast price for the completion of wave (2)).

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