Natural gas Technical Analysis Report 23 July, 2021

• Natural gas broke sideway price range
• Likely to rise to resistance level 4.200

Natural gas continues to rise inside the short-term upward impulse wave 3, which previously broke the resistance level 3.800 (top of the sideway price range inside which the price has been trading from the end of June). The active impulse waves (iii) and 3 belong to the medium-term upward impulse wave (3) from the middle of March.

Given the strong daily uptrend and the increased demand expectations on the expansion of the green energy programme in European union – Natural gas can be expected to rise further toward the next resistance level 4.200 (target price for the completion of the active impulse wave 3).


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