June 10, 2021 at 04:02PM
• Natural gas reversed from resistance zone
• Likely to fall to support level 3.100
Natural gas recently reversed down from the resistance zone lying between the key resistance level 3.200 (which has been reversing the price from November) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the previous short-term impulse wave (iii) from the end of May.
Given the overbought daily Stochastic – Natural gas can then be expected to fall further toward the next support level 3.100.
From: The FxPro News Team https://fxpro.news/technical-analysis/natural-gas-wave-analysis-10-june-2021-20210610/
Selected by fonecable.com
- Markets Week Ahead: Nasdaq, Dow Jones, US Dollar, Fed, Gold, Crude Oil, Yen, BoJ
- 4 Effective Trading Indicators Every Trader Should Know
- Dow Jones, Nasdaq 100, S&P 500 Forecasts for the Week Ahead
- Top 10 Candlestick Patterns To Trade the Markets
- Mexican Peso Forecast: Waters Turn Murkier for the Dollar, USD/MXN Remains Vulnerable