Natural Gas – Daily Analysis
In our daily Natural Gas analysis, we track candlestick formations across multiple time frames, align them with Elliott Wave structures, and review supporting technical indicators. This approach helps maintain consistency in evaluating both short- and long-term market perspectives.
CANDLES
Despite today’s strong bearish move, Natural Gas remains short-term bullish through the 3D frame into at least tomorrow, though the odds have shifted toward neutral. Tomorrow’s closures (1D/2D/3D/weekly/15D) are pivotal and will show whether the bearish grip on the 15D and weekly frames persists.
Short term: bullish-neutral
Mid term: bearish until flipped (key day tomorrow)
Long term: leaning bearish
ELLIOTT WAVES
UNG – Short Term
UNG continues to look impulsive. Today’s drop could be either wave ii in red or wave c of (ii) in green. The invalidation level for both counts is marked on the chart. A break below it would open a sizable move lower in NG.
No changes on the NG2 chart. I’m waiting for UNG to complete the necessary waves before assuming a similar structure for NG2.
SUMMARY:
Natural Gas made a sizable bearish move, but not enough to confirm a reversal. Tomorrow’s close is key and will likely set the momentum and direction.
The 15D frame—the biggest current risk—remains bearish and is more likely to stay that way after tomorrow. While the near-term tilt is still up, longer-term bearish pressure continues to hang over the tape. Time is running out.
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Happy Trading!
