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Wave Tech Analysis

FxPro Forex Analysis: Natural Gas Wave Analysis – 18 July , 2018

• Natural Gas broke support area
• Likely to fall further

Natural Gas recently broke through the support area lying between the key support level 2.770 (which also reversed the price in May) and the 61.8% Fibonacci correction of the previous upward impulse from March.

The breakout of this support area accelerated the active medium-term ABC corrective wave 2 from the middle of June.

Natural Gas is likely to fall further and re-test the next support level 2.700 (monthly low form May and the forecast price for the completion of the active wave 2).

NTGUSD - Primary Analysis - Jul-18 1746 PM (1 day)