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
Natural Gas moved lower today while beginning a pronounced divergence across several key hourly frames, which often precedes a sizeable bounce or even a full reversal. The 5–10D frames remain moderately bullish, but the daily flipped bearish today. Fresh momentum readings will arrive over the next two days. The overall candle map remains complex.
Short term: bearish, risk of reversal
Mid term: moderately bullish
Long term (15D+): leaning bearish
ELLIOTT WAVES
UNG – Short Term
UNG continues to look impulsive, with the latest whipsaw possibly forming a zigzag for wave (ii). The red count has been invalidated, and the green count is now primary. The invalidation level for the green count is shown on the chart.
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 it wasn’t enough to confirm a larger decline. Several hourly frames show strong divergences, which could lead to a sizable bounce or a complete change in direction. Momentum readings over the next two days will be instrumental.
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Happy Trading!
