Wednesday, 24 July 2019 08:28 GMT

Natural Gas Wave Analysis

(MENAFN - FxPro)

  • Natural Gas broke key support level 2.625
  • Further losses are likely

Natural Gas recently broke below the key support level 2.625 (which previously stopped the impulse 1 of the active downward medium-term impulse sequence (5) form March).

The breakout of the support level 2.625 coincided with breakout of the support trendline of the daily Triangle from February – which should accelerate the active impulse wave 3.

Natural Gas is expected to fall further and re-test the next support level 2.540 (low of the previous waves 3 and (3) from February).

Source: FxPro


Natural Gas Wave Analysis


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