Natural Gas – Daily Analysis
In this Natural Gas update, we’ll apply our signature blend of technical analysis—support levels, Elliott Wave counts, and multi-timeframe signals—to uncover where this volatile market may be headed next. Whether it’s a breakdown or a rebound, our proven methods will help decode the key signals and outline what’s likely coming on the road ahead. Don’t just watch the market—understand it.
CANDLES
Natty is still clinging just above the critical support level. While today brought a bullish attempt, the underlying technical support was weak and unconvincing. Tomorrow’s 2D and 3D candle closures will be key in revealing the true momentum behind today’s move.
For now, the short-term odds remain neutral, with both bulls and bears holding nearly equal ground. Patience is key—let’s wait for completed signals before making the next call.
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, with very low odds at this stage. The wave up that NG started yesterday appears corrective in nature and began with a significant gap, adding complexity to the current structure. More time is needed for the wave to mature before a clearer assessment can be made.
SUMMARY:
Natural Gas remains at a pivotal inflection point—the critical $3.007 level ($NG2). A break below the April low would invalidate the potential purple impulsive count and likely pave the way for a much deeper downside move.
What’s more concerning is the mounting bearish pressure across multiple technical indicators, including those on the largest timeframes. This kind of shift is rarely fleeting; once in motion, it tends to persist and is not easily reversed without a significant catalyst. The current monthly candle is already looking quite troubling. All eyes are now on the final two trading days to see if anything changes.
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Happy Trading!
