• Natural Gas under bearish pressure
• Likely to fall to support level 6.000
Natural Gas under the bearish pressure after the price reversed down from the resistance area lying at the intersection of upper daily Bollinger between, the key resistance level 6.33(top of the previous impulse wave (i) from the end of September), upper daily Bollinger Band and the resistance trendline of the daily up from the end of August. The downward reversal from this resistance zone stopped the previous impulse waves (iii) and 3.
Given the strength of the aforementioned resistance area and the clear bearish divergence on the daily Stochastic indicator, Natural Gas can be expected to fall further toward the next round support level 6.000.