• Natural gas reversed from support zone
• Likely to rise to resistance level 6.250
Natural gas recently reversed up sharply from support zone lying at the intersection of the key support level 5.25 (which also stopped the previous sharp downward correction in the middle of October), lower daily Bollinger Band, upper trendline of the recently broke up channel from May and eth 38.2% Fibonacci correction of the upward impulse from August. The upward reversal from this support zone started the active impulse wave (3).
Given the clear daily uptrend, Natural gas can be expected to rise further toward the next resistance level 6.250 (which stopped the previous impulse wave (1) at the end of last month).
