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 closed with a green candle above the 100 DMA for the third time in two weeks. If the breakout is confirmed tomorrow, it will mark a significant bullish achievement and could signal the start of a potentially long-term rally.
If NG pushes higher tomorrow, the weekly frame would transform from a consolidation signal into a clear go-ahead candle. The short-, mid-, and long-term odds remain bullish to varying degrees.
On a side note, UNG, European TTF, and other gas-tracking instruments remain aligned with the NG2 perspective.
ELLIOTT WAVES
Last Wave
No changes to the previous assessment. Natty can still perform a classic Nattish trick, with a sharp move lower followed by a V-shaped recovery. However, if the current wave up, which looks increasingly bullish, continues, we could consider a truncated wave c within the wave ii correction.
In either case, the mid-term perspective remains unchanged.
SUMMARY:
Natural Gas remains broadly bullish, with the repeated closes above the 100 DMA raising the odds of a more durable breakout if confirmed tomorrow. A stronger Friday push could also turn the weekly frame from consolidation into a clear continuation signal.
The Elliott Wave structure still allows for one more sharp dip and V-shaped recovery, but the current advance is looking increasingly constructive and may support a truncated wave c scenario. The mid-term bullish perspective remains unchanged, with gas-tracking instruments aligned.
