• Natural gas reversed from the support zone
• Likely to rise to round resistance level 4.000
Natural gas continues to rise after the price reversed up from the support zone lying between the key support level 3.75 (previous monthly low form August) – strengthened by the lower daily Bollinger Band. The upward reversal from this support zone started the active minor correction (ii) – which belongs to the higher order downward impulse wave 3 from November.
Given the global improvement in risk sentiment seen across the commodities markets today and the oversold daily Stochastic, Natural gas can be expected to rise further toward the next round resistance level 4.000 (former minor support from the start of December).