Natural Gas – Daily Analysis
In this report, we examine the latest developments in Natural Gas from multiple technical perspectives. We apply our full methodology—candlestick structures, momentum signals, and Elliott Wave analysis—to uncover the technical dynamics shaping this high-volatility commodity.
The full report features annotated charts, scenario breakdowns, and a deeper look at what may be quietly forming beneath the surface—available exclusively to members.
CANDLES
Following confirmation yesterday, Natural Gas declined today. The commodity is now grossly oversold on multiple hourly frames, and there’s a fair chance of a bounce tomorrow—especially given the uncertainty on timeframes beyond the daily. Tomorrow is a critical day: the 2D through 15D frames are closing and will likely define the short- and mid-term outlooks, as well as shape expectations for next week’s monthly closure. Adding to the mix, Thursday marks the contract switch.
Looking at the UNG daily chart, it seems that after three gaps up, UNG might be setting up for three gaps down—potentially followed by a super bullish reversal around the contract switch, just to send everyone spinning. Let’s see how this hypothesis plays out.
ELLIOTT WAVES
The blue count remains the primary scenario. Ideally, wave c of (ii) should terminate below the top of wave a. So far, wave c appears impulsive and has possibly completed waves 1-2-3 of c.
SUMMARY:
Natural Gas enters tomorrow with a bearish short-term outlook. However, strong oversold signals across multiple hourly frames suggest that a bottom—and a potential reversal point—may be near. Ideally, NG would dip below the May 19 low to complete the blue structure, though this move isn’t strictly required; a truncated wave is possible, which could trigger a sharper, more agile rally.
The broader trend remains tilted to the upside. The 2-month and larger timeframes continue to support the potential for an extended rally, provided momentum holds through the end of June. Tomorrow marks a critical closure across multiple short-, mid-, and long-term frames—likely defining the odds for the coming weeks, if not longer.
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Happy Trading!
