Natural Gas – Weekly Analysis
Natty followed the projected path this week with impressive precision. Now the question is whether the next move is already taking shape.
After confirming a short-term bottom and building fresh bullish momentum, Natural Gas is approaching another important technical checkpoint.
In this weekly report, we review the latest developments, assess the evolving structure, and outline the key levels that could determine Natty’s next directional move.
CANDLES
No surprises today. Natural Gas confirmed the 8/20-day EMA bullish cross and formed a strong Bullish Engulfing on the weekly frame.
The short- and mid-term odds remain bullish until negated.
ELLIOTT WAVES
Last Wave
Last week, we discussed a potential rally toward the origin of the Ending Diagonal, a 32% opportunity. At this point, the first half of the targeted move is already behind us. The potential lifts of 32% and 57% off the bottom remain on the radar.
Waves i and ii are likely complete, and wave iii is now unfolding.
SUMMARY:
Natural Gas followed the projected path with strong precision this week. The daily frame confirmed the 8/20 EMA bullish cross, while the weekly formed a strong Bullish Engulfing, keeping the short- and mid-term odds bullish until negated.
From an Elliott Wave perspective, waves i and ii are likely complete, and wave iii is now unfolding. Last week’s target toward the origin of the Ending Diagonal remains active. The first half of that move is already behind us, while the 32% and 57% upside targets off the bottom remain on the radar.
