• Natural gas broke resistance 3.362
• Likely to rise to resistance level 3.600
Natural gas continues to rise after the recent breakout of the resistance 3.362 – which stopped the sharp uptrend at the start of November and also at the start of June. The breakout of the resistance 3.362 should accelerate the active impulse waves (iii) and 3 of extended upward impulse sequence (C) from the end of December.
Given the strength of the active uptrend and the latest improvement in risk sentiment across the commodity markets today – Natural gas can be expected to rise further toward the next resistance level 3.600 (target price for the completion of the active impulse waves (iii) and 3).