Elliott Wave Analysis of Natural Gas for August 10, 2021

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Natural gas rose higher towards the Cup with Handle target at 5.27. In the short term, we could see a temporary setback to the Cup with Handle neck-line near 3.40 before the next swing higher towards the bottom-formation target at 5.27.

In the long term, we are looking for even more upside pressure. However, now, we need to be cautious as Natural Gas has been depressed for over a decade and it takes time to regain trust in the asset again. However, all factors point towards higher prices in the years to come.

The material has been provided by InstaForex Company - www.instaforex.com

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