August 14, 2020 at 03:33PM
• Natural gas broke key resistance level 2.27
• Likely to rise to 2.400
Natural gas today broke sharply above the key resistance level 2.27 (top of the previous sharp upward impulse wave (iii)).
The breakout of the resistance level 2.27 accelerated the C-wave of the active ABC correction (2) from the end of June.
Natural gas is likely to rise further toward the next resistance level 2.400 (target price for the completion of the active ABC correction (2)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/natural-gas-wave-analysis-14-august-2020-20200814/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses