Natural Gas – Daily Analysis
Natural Gas has now recorded a host of key signals—enough to begin decoding its next move with greater clarity. The structure that’s been unfolding over the past several weeks remains on shaky ground, and the market is teetering near a critical breakdown point. A decisive move below this level could reset multiple technical setups and open the door to entirely new scenarios. In this update, we’ll analyze the most important support levels, evaluate the leading wave counts, and outline what a breakdown or rebound could mean for the path ahead.
CANDLES
I’m afraid Natty has made its choice—or perhaps the choice was made for it, depending on what you believe. The candles are downright alarming: the 5D and 10D frames have formed decisive bearish continuation patterns, significantly elevating the bearish odds for both the mid- and long-term outlooks. The daily is now on track for a 50/100 DMA bearish cross in the coming days, and the weekly chart isn’t offering much hope either.
ELLIOTT WAVES
Mid Term
If NG2 breaks below $3.007, the red count shown above will likely take over as the primary scenario. The chart below provides a zoomed-in view of the structure for closer examination.
The previous purple count remains on the back burner, though its odds are currently very low.
SUMMARY:
Natural Gas remains at a pivotal inflection point. The candles have spoken—now it’s up to the Elliott Waves to confirm by breaking below $3.007 ($NG2). A new low beneath the April level would invalidate the current impulsive count and likely pave the way for much deeper downside exploration.
Even more concerning is the growing bearish tilt across multiple technical indicators, including those on the largest timeframes. This type of shift tends to be persistent and is rarely reversed without significant effort.
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Happy Trading!
