Natural Gas Wave Analysis 20 November 2024

- Natural gas broke the multi-month resistance level 3.150
- Likely to rise to resistance level 3.750

Natural gas continues to rise strongly after the earlier breakout of the key multi-month resistance level 3.150, reversing the price from May.

The breakout of the resistance level 3.150 accelerated the active impulse waves 3 and (3) – both of which belong to the long-term upward impulse wave 3 from August.

Given the clear daily uptrend, natural gas can be expected to rise to the next resistance level 3.750, which is the target price for the completion of the active wave (3).