Natural Gas – Daily Analysis
In this Natural Gas update, we bring together our core technical strategies—support zones, wave analysis, and multi-timeframe indicators—to assess where this high-volatility market might head next. Whether a breakdown is unfolding or a rebound is brewing, our time-tested approach helps clarify the signals and outline the scenarios that matter. This isn’t just market watching—it’s informed forecasting.
CANDLES
The daily candle, as expected, shut down yesterday’s bullish attempt. The 2D, 3D, and 8D frames followed through with bearish candles and combinations, reinforcing the downside pressure.
For now, the short-term outlook has flipped bearish. NG continues to hold a solid chance of breaking the pivotal support and closing the month with a bearish signal tomorrow.
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 point. Today’s wave down appears impulsive, though not yet complete. There’s a strong chance it could finish tomorrow, potentially providing more clarity on the next move.
SUMMARY:
Natural Gas remains at a critical inflection point near the $3.007 level ($NG2). A break below the April low would invalidate the potential purple impulsive count and likely clear the way for a much deeper decline.
Even more concerning is the growing bearish pressure across several technical indicators, including those on the highest timeframes. The current monthly candle is shaping up to be a major warning sign—and could mark the significant extension of a bear market.
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Happy Trading!
