Natural Gas is showing early signs of completing a multi-year bottom and entering a potential new bullish impulse cycle.
🔹 Key Technical Highlights:
✅ A-B-C correction ended at $1.50 (Feb 2024); impulse to $4.90 may be Wave 1.
🔁 Current pullback looks like Wave 2, potentially bottoming near $2.85–3.00.
🔼 Golden Cross (50 > 200 DMA) occurred in Oct 2024 — rare long-term bullish signal.
🔃 RSI & MACD momentum are rebounding from deeply oversold zones.
📊 Volume shows signs of capitulation and early accumulation near $3.00.
📐 Chart patterns: Triangle + falling wedge breakout (on 4 hr charts) = bottoming structure.
🌀 Seasonal cycles suggest spring weakness may be ending — summer upside risk rising.
💼 COT positioning: Specs remain extremely short, while commercials are net long — a classic contrarian buy setup.
⚖️ Gold/NG Ratio has peaked and is declining — historically a bullish signal for NG heading into 2026.
🔍 Directional Bias:
Cautiously Bullish
Majority of signals are now aligned or turning bullish. A sustained breakout above $3.75–4.00 would confirm a broader trend shift.
🧭 Trade Setups:
📍 Short-Term (1–2 weeks)
Entry: $3.00–3.20 | Target: $3.75 | Stop: <$2.85
Play the bounce from oversold zone and 200DMA test
📍 Medium-Term (2–8 weeks)
Accumulate: $3.00–3.30 | Target: $4.90–5.80
Possible Wave 3 breakout pending above $4.90
📍 Long-Term (3–12+ months)
Position: $2.90–3.50 | Target: $6.20 → $9+
Post-correction rally underway; risk/reward is favorable on dips
🗓️ April 28 Candle Recap:
Bullish engulfing candle on rising volume. If bulls hold this breakout into May, the $2.85–3.00 floor may be confirmed.
🔚 Bottom Line:
NG appears to be transitioning from a long bear market into a new upcycle. The stars are aligning — just be ready for near-term chop.
🔹 Key Technical Highlights:
✅ A-B-C correction ended at $1.50 (Feb 2024); impulse to $4.90 may be Wave 1.
🔁 Current pullback looks like Wave 2, potentially bottoming near $2.85–3.00.
🔼 Golden Cross (50 > 200 DMA) occurred in Oct 2024 — rare long-term bullish signal.
🔃 RSI & MACD momentum are rebounding from deeply oversold zones.
📊 Volume shows signs of capitulation and early accumulation near $3.00.
📐 Chart patterns: Triangle + falling wedge breakout (on 4 hr charts) = bottoming structure.
🌀 Seasonal cycles suggest spring weakness may be ending — summer upside risk rising.
💼 COT positioning: Specs remain extremely short, while commercials are net long — a classic contrarian buy setup.
⚖️ Gold/NG Ratio has peaked and is declining — historically a bullish signal for NG heading into 2026.
🔍 Directional Bias:
Cautiously Bullish
Majority of signals are now aligned or turning bullish. A sustained breakout above $3.75–4.00 would confirm a broader trend shift.
🧭 Trade Setups:
📍 Short-Term (1–2 weeks)
Entry: $3.00–3.20 | Target: $3.75 | Stop: <$2.85
Play the bounce from oversold zone and 200DMA test
📍 Medium-Term (2–8 weeks)
Accumulate: $3.00–3.30 | Target: $4.90–5.80
Possible Wave 3 breakout pending above $4.90
📍 Long-Term (3–12+ months)
Position: $2.90–3.50 | Target: $6.20 → $9+
Post-correction rally underway; risk/reward is favorable on dips
🗓️ April 28 Candle Recap:
Bullish engulfing candle on rising volume. If bulls hold this breakout into May, the $2.85–3.00 floor may be confirmed.
🔚 Bottom Line:
NG appears to be transitioning from a long bear market into a new upcycle. The stars are aligning — just be ready for near-term chop.
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.