Natural Gas recently rose sharply – in line with our previous forecast for this instrument. The price earlier reversed up strongly with the Japanese candlestick reversal pattern- Morning Star Doji – from the support zone lying between the support level 4.500 and 50% Fibonacci Correction of the preceding upward impulse from the end of wave (2) (as you can see below).
The upward impulse from this support zone broke the daily Triangle from the end of April. Natural Gas is set to rise further to the next buy target 4.900 – followed by 5.000.
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