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!