Natural Gas – Daily Analysis
This Natural Gas Daily reads the tape—candles, momentum, and structure—to map the flip levels, timing windows, and invalidations that matter. If a break is coming, this is where we learn which side earned it.
CANDLES
Natural Gas confirmed a bottom on the daily and has strong odds of confirming a 2D bottom tomorrow. The 3D closed with a strong Piercing Line, a bullish reversal combo, raising the chances of bullish closures on the daily and 2D frames tomorrow. If momentum holds and NG closes the week near current levels, a larger reversal is likely. The 15D remains a major unknown.
Short term: bullish
Mid term: bearish until flipped
Long term: leaning bearish
ELLIOTT WAVES
UNG – Short Term
As the NG2 chart shows a large gap at the bottom and the EW assessment relies on too many assumptions, I evaluated UNG, which typically correlates with NG. UNG has either completed waves (i) and (ii) and is now in the middle of wave (iii) in red, or it is finishing wave v in blue. The technical footprint favors the red count.
If the UNG wave assessment holds, NG2 is likely starting wave iii in purple. I’ll be more confident once the weekly and 15D frames close on Friday.
SUMMARY:
Natural Gas is bullish in the short term, with a reasonable chance for bulls to extend momentum into the larger frames closing over the next three days. Until the weekly is decisively flipped, we still treat it—and the larger frames—as bearish.
The 15D frame, the biggest current risk, remains bearish and would require a very strong rally within the next three trading days to reverse. So while the near-term tilt is up, longer-term bearish pressure still hangs over the tape. Time is running out.
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Happy Trading!
