• Natural gas reversed from support zone
• Likely to rise to resistance level 6.3
Natural gas recently reversed up from the support zone lying between the key support level 5.40 (low of the previous wave (a)), 20-day moving average and the 61.8% Fibonacci correction of the upward impulse from September.
The upward reversal from this support zone started the active minor impulse wave 5 – which is a part of the higher-order upward impulse sequence (5) from July.
Natural gas can be expected to rise further toward the next resistance level 6.3 (which stopped the previous waves 3 and (b)).