Wave Tech Analysis

FxPro Forex Analysis: Natural Gas Wave Analysis – 14 August , 2018

• Natural Gas rising inside wave 2
• Further gains are likely

Natural Gas recently reversed up from the support level 2.900, which also previously reversed the price multiple times in the middle of June, as can be seen below.

The upward reversal from the support level 2.900 started the active short-term impulse wave (iii) – which is a part of the short-term corrective wave 2 from the middle of July.

Natural Gas is expected to rise further and retest the next round resistance level 3.000 (target price calculated for the completion of the active wave 2).

NTGUSD - Primary Analysis - Aug-14 1843 PM (1 day)