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Natural Gas – Daily Analysis

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

NG2 continued to consolidate without breaking any major support while keeping all trends bullish. The consolidation is not over and may extend for a few more days before the next leg higher starts.

All trends remain firmly bullish.

ELLIOTT WAVES

Last Wave

From the timing perspective, the current wave could be wave 2 of v. If it extends for 1–2 more days, the odds for that scenario will increase.

SUMMARY:

Natty remains neutral-bullish in the short and mid term, with a fair chance of turning solidly bullish and resuming the rally higher.

Short term: neutral-bullish
Mid term: neutral-bullish
Long term: bullish

Happy Trading!