December 14, 2020 at 02:05PM
• Natural gas rising inside impulse wave (3)
• Likely to reach resistance level 2.800
Natural gas continues to rise inside the medium-term upward impulse wave (3) which started earlier from the key support level 2.355 (former monthly low from October) – intersecting with the daily down channel from November.
The support zone near the support level 2.355 was further strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from September.
Natural gas is expected to rise further toward the next resistance level 2.800 (coinciding with the aforementioned down channel from November).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/natural-gas-wave-analysis-14-december-2020-20201214/
Selected by fonecable.com
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