Natural Gas – Daily Analysis
In today’s report, we examine Natural Gas, analyze key technical signals and the evolving structure, and identify the critical levels that will determine where Natty heads next.
CANDLES
Well, today Natural Gas played its “widow maker” script, and we were right to note yesterday that the risks were not gone despite the confirmed bottom on the daily frame. Natty formed a strong bearish candle on the daily, but the technical support for a continued move down remains very weak. At best, the commodity is neutral, with a very high risk of a bullish move. We will evaluate the mid-term perspective tomorrow after the weekly close.
ELLIOTT WAVES
Last Wave
NG invalidated the prospective for an impulse up and possibly formed the final wave of the ending diagonal c of (2). All counts are now aligned, the structure looks more natural, and the technicals show double compression, divergence, and a volume spike—all classical elements of a completed diagonal.
The January low still holds, keeping the (1–2) setup on the table.
SUMMARY:
Natty is now neutral after invalidating the immediate bullish impulse scenario. The daily printed a strong bearish candle, but follow-through is weak, leaving no solid technical support for continued downside. Price action remains compressed, with divergence and a volume spike—classical signs of a completed move.
From an Elliott Wave perspective, the ending diagonal c may be complete, with all counts now aligned and structure more natural. Importantly, the January low still holds, keeping the (1–2) setup on the table and maintaining a high risk of a bullish move.
