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Natural Gas Daily Update

Natural Gas made an extremely strong bearish move today, way stronger than it was required for just a pullback, and possibly completed the first impulse wave down. If the direction is confirmed tomorrow, a bear path I shared a few days ago will be fully open.


NG confirmed a bearish reversal on the 12hr frame and made a full Bearish Engulfing on the daily. If the daily candle is confirmed tomorrow, it could set a significant ride downwards.


Today’s almost perfect impulsive wave down tells one thing – at least one more wave of a comparable size is coming, possibly after a little bounce.

The bigger picture – a possible completion of an expanding triangle.

The bullish path has not been invalidated, but it will be if NG makes a new lower low.

NG is very bearish and at least one more day of lower prices is expected. If NG does not negate the bearish odds in the next 2 days, it can keep the bearish odds alive on the weekly frame and, respectively, resume the ride downwards.

The next two day could be the key for the next few months.

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