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Natural Gas – Daily Analysis

We’re analyzing Natural Gas through a layered approach—candles, core technicals, and Elliott Waves—so we can spot momentum shifts and manage risk across short, mid, and long horizons. In today’s note, we keep the order consistent: read the candles, seek technical confirmation, then use EW structure to map the likely paths.

CANDLES

Today, Natty formed a Bearish Engulfing, and a move down tomorrow is likely. However, I have doubts about confirming this move tomorrow. The commodity could hit a lower low midday and then bounce back without confirmation. Nevertheless, confirmation for the initial move is required. Until then, the short term is neutral. The mid term (weekly) remains bullish until at least Friday. All trends remain bullish.

ELLIOTT WAVES

Last Wave

No changes on the Elliott Wave map. The recent high could be the top of wave iii and almost equally subwave (3) of iii.

Flag

NG extended the corrective structure by forming another wave within a bullish flag. At this point, there are higher chances for an impulsive wave upward.

SUMMARY:

After a strong rally, Natural Gas appears to be forming a bullish flag. At this point, the odds favor a move higher.

Short: neutral
Mid/Long term: bullish

Happy Trading!