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Natural Gas – Daily Analysis

Natty delivered no surprises and continues to track our projected mid-term path. In today’s analysis, we’ll evaluate the latest signals and determine if any adjustments are needed for a potential directional shift.

CANDLES

Natural Gas printed a neutral-bearish candle on the daily and a strong bearish continuation candle on the 3D frame. The commodity remains at risk of losing the 100-week MA, with odds still skewed bearish across multiple short- and mid-term frames.

Long term, Natural Gas stays bearish until a compelling bullish formation develops.

ELLIOTT WAVES

No changes to the outlook; just the refreshed chart.

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 across all time frames until a decisive reversal signal appears.

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Happy Trading!