🔍 Technical Analysis Summary – Natural Gas (NG1!)
📉 Left Chart (Daily Timeframe – ABC Correction):
Market structure shows a clear ABC corrective pattern forming.
Wave A completed with a sharp down move.
Wave B retracement is also complete.
Now initiating Wave C, projecting a downside target near $2.90–$3.00.
The structure indicates a correction within a larger downtrend continuation.
📊 Right Chart (90-Minute Timeframe – Elliott Impulse):
The chart breaks down Wave C into an impulsive 5-wave structure:
Wave I: Down move from ~$3.90 to ~$3.45.
Wave II: Pullback (currently ending).
Wave III, IV, V: Projected further downside.
Final target: $2.85–$2.90 region.
Multiple EMAs (34, 62, 89, 144) show bearish alignment — resistance in recent pullback.
Price action is below all EMAs, confirming bearish trend continuation.
📌 Conclusion:
Natural Gas is likely entering Wave C of a larger ABC correction.
Expect further downside with potential targets:
Short-term: $3.10
Mid-term: $2.85–$2.90
Trend remains bearish unless price reclaims above the EMA cluster (~$3.65–$3.80).
⚠️ Disclaimer:
This analysis is for educational purposes only. It is not financial advice. Please consult your financial advisor before making any trading decisions.
📉 Left Chart (Daily Timeframe – ABC Correction):
Market structure shows a clear ABC corrective pattern forming.
Wave A completed with a sharp down move.
Wave B retracement is also complete.
Now initiating Wave C, projecting a downside target near $2.90–$3.00.
The structure indicates a correction within a larger downtrend continuation.
📊 Right Chart (90-Minute Timeframe – Elliott Impulse):
The chart breaks down Wave C into an impulsive 5-wave structure:
Wave I: Down move from ~$3.90 to ~$3.45.
Wave II: Pullback (currently ending).
Wave III, IV, V: Projected further downside.
Final target: $2.85–$2.90 region.
Multiple EMAs (34, 62, 89, 144) show bearish alignment — resistance in recent pullback.
Price action is below all EMAs, confirming bearish trend continuation.
📌 Conclusion:
Natural Gas is likely entering Wave C of a larger ABC correction.
Expect further downside with potential targets:
Short-term: $3.10
Mid-term: $2.85–$2.90
Trend remains bearish unless price reclaims above the EMA cluster (~$3.65–$3.80).
⚠️ Disclaimer:
This analysis is for educational purposes only. It is not financial advice. Please consult your financial advisor before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.