Natural Gas Daily Update
It’s been a fantastic ride. NG lost 76% after our call 7 months ago and now has a chance to flip this trend. All will all depend on the monthly closure tomorrow.
This chart was posted in August 2022.
This is the same chart today.
Today is the last time we share our NG daily report with the guests of our site. Starting next week, these reports will be available for subscribers only.
The daily reports focus on interpretation of the most recent technical events and candle formations, discuss the short and mid term forecasts using theories of Messrs. Elliott and Fibonacci.
From the candles perspective, NG negated the bearish odds of the previous candle and closed above the 50 DMA. While the move upwards is not confirmed yet, the odds are bullish for now.
If bulls confirm their intent tomorrow, this could be the next move.
The section below is reserved for the members.
NG candles are bullish-neutral, pending a confirmation for either direction. If bulls win and NG prints favorable weekly and monthly candles, the commodity will be set for a sizeable advance, as projected on the chart.
Tomorrow will be a key day for defining the mid, possibly the long term path.
A bigger path and probabilities were discussed in details in the Latest Weekly on April 22nd:
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p.s. This is the last week we are offering free daily updates on Natural Gas and Oil.