Natural gas Technical Analysis 27 August, 2021

• Natural gas broke key resistance level 4.200
• Likely to rise resistance level 4.600

Natural gas continues to rise inside the minor impulse wave 3, which previously broke the key resistance level 4.200 (which stopped the previous sharp upward impulse wave 1 at the start of August) – in line with our previous forecast for this instrument. The breakout of the resistance level 4.200 accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the end of May.

Given the prevailing uptrend – Natural gas can be expected to rise further toward the next resistance level 4.600 (target price for the completion of the active impulse wave 3) – from where the price is lily to correct down on the overbought daily Stochastic.

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