• Natural gas broke round resistance level 5.000
• Likely to rise to resistance level 5.400
Natural gas under the strong bullish pressure after the round resistance level 5.000 (which was mentioned as the likely upward target in our previous forecast for this instrument). The breakout of the resistance level 5.000 accelerated the active short-term upward impulse wave 5, which belongs to the intermediate upward impulse wave (3) from the middle of August. This price impulse earlier started form the upper channel line of the wide up channel from May.
Given the strong upend that can be seen on the daily Natural gas – Natural gas can be expected to rise further toward the next resistance level 5.400 (likely price for the completion of the active short-term upward impulse wave 5)