• Natural gas rising inside impulse wave 3
• Likely to rise to resistance level 9.500
Natural gas recently reversed up from the key support level 7.755 (which has been reversing the price from the start of August), standing near the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from July.
The upward reversal from the support level 7.755 started the active short-term upward, which belongs to wave (C) from July.
Natural gas can be expected to rise further toward the next resistance level 9.500 (top of the earlier short-term correction (b) from last month).
Source: Fxpro
