Natural Gas Wave Analysis – Rehana William |Financial Consultant _Forex_Gold Xauusd| Fund Manager
Natural Gas: ⬇️ Sell
– Natural Gas reversed from resistance level 3.400
– Likely to fall to support level 3.000
Natural Gas recently reversed down from the resistance zone located at the intersection of the resistance level 3.400 (which previously stopped major price advances in March and June) and the 50.0% Fibonacci correction level of the downward impulse from January.
The downward reversal from this resistance zone stopped wave iii of the sharp impulse wave C from August.
Given the strength of the 3.400 resistance level and the clear daily downtrend, Natural Gas can be expected to fall further toward the next key support level 3.000.
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