empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

31.03.202306:13 Forex Analysis & Reviews: Elliott wave analysis of UNG for March 31, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 31.03.2023 analysis

Our proxy for Natural Gas, UNG, is in the very final stages for the decline from 34.50. We think that a final spike to just below 6.58 could be seen to complete the decline from 34.50 and set the stage for a new impulsive rally back to the long-term resistance at 34.50.

That said, a direct break above resistance at 7.25 and more importantly resistance at 7.88 will confirm the completion for the decline from 34.50 and that a new impulsive rally is unfolding.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off