Natural Gas – Daily Analysis
In today’s Natural Gas technical analysis, we examine Natty through its key signals and evolving Elliott Wave structure, identify the critical levels now in focus, and assess the most probable path for the next major move. CANDLES Same story as oil. After a nice bottoming pattern and a Bullish Engulfing, Natty printed a larger Bearish Engulfing, fully against the odds. Natty is now bearish short-term. If momentum extends a little further, the commodity may print an 8/20 EMA bearish cross. The 3D pattern is moderately bearish, while tomorrow’s weekly close will be key. A close below the low of the green candle printed two weeks ago would be strongly bearish. A close inside that green body would be considered a failure, leaving the weekly odds bullish-neutral. ELLIOTT WAVES Last Wave After today’s move, there is now a chance that Natty formed a short- to mid-term top in blue. The red…
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