Natural Gas – Daily Analysis

Natural Gas (NG2) pulled back again—so is this the start of a new trend, or are bulls still in charge? In today’s natural gas technical analysis, we assess the Henry Hub futures setup using candlestick structure, support/resistance, EMA/MACD momentum, and Elliott Wave context to gauge whether bulls can extend the rebound or a bearish continuation is next.
CANDLES

At the very last moment, Natural Gas bulls made a move and saved the day. Most likely, today’s candle was just another consolidation before the rally resumes. The 2D and 3D frames formed pausing candles. Momentum remains strong, and Natty has a good chance to confirm the weekly bullish setup.
All trends remain firmly bullish.
ELLIOTT WAVES
Last Wave


As the wave upward began with a large gap, we won’t know whether the current pullback is wave 2 or 4 until it completes wave (i). Some technicals suggest higher odds that wave 5 of v is about to start, as outlined in red.
SUMMARY:
Natty is neutral-bullish in the 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-bullish
Mid term: neutral-bullish
Long term: bullish
Happy Trading!