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Natural Gas – Daily Analysis

Natural Gas (NG) pulled back—now the question is consolidation or the start of a larger move. In today’s natural gas technical analysis, we assess the Henry Hub futures setup with candlestick structure, support/resistance, EMA/MACD momentum, and Elliott Wave context to gauge whether bulls can extend the rebound or if a bearish continuation is next.

CANDLES

Natural Gas printed a 50/100 DMA golden cross today, further increasing the mid-/long-term odds of a continued rally. The daily formed a DCC, but the technical context is not very convincing and remains pending confirmation. The larger frames remain healthily bullish. Momentum is very strong, and Natty has good chances to confirm the weekly bullish setup.

All trends remain firmly bullish.

ELLIOTT WAVES

Last Wave
(no change, just a refreshed chart)

Assuming this is wave v, here’s what to expect:

  1. Typical extensions for wave v: 1.0, 1.618, and 2.0 of wave i (marked by the blue Fibs).
  2. In commodities (including NG), wave v often runs longer than wave iii; a break above $4.75 would mark v > iii.
  3. Statistically, the most probable target lies in the upper third of the rectangle.

Let’s see how it develops.

SUMMARY:

Natty is neutral short-term and bullish across all other frames, with a fair chance to extend those odds further on the weekly and monthly frames.

Short term: neutral
Mid term: neutral–bullish
Long term: bullish

Happy Trading!