Wave Tech Analysis

FxPro Forex Analysis: Natural Gas Wave Analysis – June 27, 2018

• Natural Gas reversed from support area
• Further gains are likely

Natural Gas recently reversed up once again from strong support area lying between the key support level 2.900 , 38.2% Fibonacci correction of the previous upward impulse from May and the upper trendline of the daily up channel from February.

The upward reversal from this support area continues the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from February.

Natural Gas is likely to rise further and re-test the next strong resistance level 3.040 (the top of the earlier sharp reversal pattern Bearish Engulfing).

NTGUSD - Primary Analysis - Jun-27 1548 PM (1 day)