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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

Today, Natural Gas consolidated above the 50 DMA on the daily frame. At the same time, it formed a solid Bullish Engulfing on the 3D frame, strengthening the initial bullish momentum and repositioning the weekly frame for a bullish close.

If this momentum holds over the next two days, the gas market may enter May with a new direction.

ELLIOTT WAVES

Last Wave

I treat the current pullback as wave ii of a potential impulse higher. If my projections are correct, wave iii could start within the next 1–2 days.

SUMMARY:

Natural Gas continues to strengthen after confirming a short-term bottom. Today’s consolidation above the 50 DMA, combined with a solid Bullish Engulfing on the 3D frame, further supports the initial bullish momentum and improves the setup for a bullish weekly close.

From an Elliott Wave perspective, the current pullback is treated as wave ii of a potential impulse higher. If the projection is correct, wave iii could start within the next 1–2 days. If momentum holds into month-end, the gas market may enter May with a new bullish direction.