Natural gas Technical Analysis Report 4 August, 2021

• Natural gas broke resistance level 4.061
• Likely to rise to resistance level 4.200

Natural gas continues to rise after recently breaking the resistance level 4.061 (which is the top boundary of the tight sideways price range inside which Natural gas has been trading from the middle of July, as can be seen below). The breakout of this sideways price range continues the active minor impulse wave 5 of the intermediate upward impulse sequence (3) from the middle of March.

Given the strong daily uptrend , Natural gas can be expected to rise further toward the next resistance level 4.158 (top of the previous short-term impulse wave 3 from the end of July) – the breakout of which will lead to further gains toward the next resistance level 4.200.


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