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Natural Gas Wave Analysis – 04 March, 2019

  • Natural Gas reversed from long-term support area
  • Likely to rise to 2.00

Natural Gas recently reversed up from the long-term support area lying at the intersection of the multi-year support level 1.6440 (which started the sharp weekly uptrend in 2106) and the lower weekly Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse wave 5.

Given the oversold weekly Stochastic – Natural Gas is likely to rise further toward the next round resistance level 2.00 (former yearly low from 2019 and the top of the previous correction 4).

Natural Gas reversed from long-term support area

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