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NaturalGas Daily Analysis

Tomorrow Natural Gas will form the quarterly candle. All I can say right now is that a rally for about 55-60% would required tomorrow in order to flip the very long term odds bullish, and we will evaluate these and other the data points in the monthly report on the weekend.

_ Since August, NG lost 79% after our call. _

In today’s daily report we will evaluate candles which $NG, $BOIL and $KOLD formed, discuss technical events, and talk about the short term perspectives and probabilities. The report is available for subscribers only.

CANDLES:

Natural gas made a bearish statement and negated yesterday’s attempt to rally. The odds are bearish and the chances for a continued decline are higher.

The candles on the right are the quarterly ones. They possibly signal a very long bear market – we will discuss the options in the monthly report on the weekend.

$UNG, $BOIL, and $KOLD candles which could mark a short term bottom/top, but they require strong confirmations for such moves.


ELLIOTT WAVES

Natural Gas has possibly completed waves 3 and 4 and is starting wave 5.

SUMMARY:

Natural Gas daily odds are bearish after today’s closure. A continued move down has higher probability.

A bigger picture and perspectives were discussed in the latest weekly report on Saturday, March 25th. It can be viewed here:
https://investingangles.com/2023/03/25/naturalgas-weekly-analysis-natgas-ng-ung-boil-kold-4/

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