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NaturalGas Daily Update

Natural Gas did not make a new lower low today and the bullish odds still prevail.

While the daily candles look bearish, the larger formations are still bullish. The commodity is possibly forming a Double/Triple bottom.

The 10-day candles which closed today completed a formation that has better chances to be resolved upwards, or at least to try to.

The technical indicators are mixed. A strong move is needed to confirm either direction.


From the perspective of Elliott Waves, the bullish setup is not broken. NG remained the previous low by 0.3 pips, and I continue to keep this bullish micro path as primary.

The weekly closure tomorrow will be crucial.

A bigger picture with the perspective bearish path is shown on the chart below (subscription required).

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