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18.10.202309:47 Forex Analysis & Reviews: Elliott wave analysis of Natural Gas for October 18, 2023

Exchange Rates 18.10.2023 analysis

As the 2a year cycle showed Natural Gas (NG) bottomed right on cue at 1.94 and has since been headed higher. The instrument is likely to continue higher until at least mid-2024 and could extend its rally towards October 2025. If this is the case, we should expect NG to peak above the 2022 top at 10.03. The first major target on the way higher is seen near 4.37 with support firmly in place near 2.50.

However, for the next 8 - 24 months, NG should continue higher according to the cycle.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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