Natural Gas – Daily Analysis
Natty has continued to track our path and is closing in on another significant signal. In this update, we’ll assess it from multiple angles—candlesticks, momentum, and wave structure—and lay out the targets and probabilities to reveal what’s truly unfolding beneath the surface of this high-volatility market.
CANDLES
Today, NG printed a Thrusting Line—a bearish continuation pattern—on the daily chart, alongside a strong bearish continuation candle on the 2D, closing below the 400 DMA. The weekly chart looks increasingly gloomy, with a fair chance of losing the 50 WMA support.
A statistical review suggests the current move still carries the possibility of an additional 15–55% downside before it’s done.
Natural Gas remains firmly bearish until a compelling bullish formation emerges.
ELLIOTT WAVES
After today’s moves, I am adding one more target range.
Several technical factors support the view that this wave is either wave 3 or wave C of some degree. The purple alt iii target is derived from Fibonacci levels, while the blue rectangle represents a statistical estimate based on historical performance.
SUMMARY:
Natural Gas remains bearish, with elevated odds for a continued decline in both the short- and mid-term.
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Happy Trading!
