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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)).

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