Tue, May 30, 2023 @ 05:41 GMT
HomeContributorsTechnical AnalysisNatural Gas Wave Analysis

Natural Gas Wave Analysis

  • Natural gas broke round resistance level 9.0000
  • Likely to rise to resistance level 9.65

Natural gas recently broke above the round resistance level 9.0000 (which stopped the earlier minor impulse wave 3 at the start of May, as can be seen below).

The breakout of the resistance level 9.0000 continues the active short-term impulse wave 5 of the multi-month upward impulse wave (C) from December.

Given the strong daily uptrend, Natural gas can be expected to rise further toward the next resistance level 9.65 (target for the end of the active sub-impulse (iii)).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading