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).

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From: The FxPro Tech Analysis Team
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