Natural Gas (NG) Technical Outlook – May 7, 2025
Is Wave (3) unfolding right now? The setup says YES.
After bouncing from the $2.85 low, Natural Gas has surged and is now forming a classic impulsive wave structure. All major indicators are flashing green:
✅ Momentum & RSI: Bullish crossover confirmed, with RSI holding near 60
✅ Volume: Buyers stepped in hard above $3.50
✅ Elliott Wave: Wave (2) likely completed, Wave (3) is underway with $4.70–4.90 in sight
✅ Cycle Timing: Matches a projected late-May peak before minor pullback
✅ Seasonality: May → June often kicks off major upside runs in NG
✅ COT: Specs still heavily short = fuel for more upside
✅ Chart Patterns: confirmed double bottom with head & shoulders above that needs to be broken
📈 The current pullback may be Wave (2) of (3), with the next leg potentially targeting $4.40–$4.70. Near-term consolidation is healthy, not bearish.
🎯 Trading Levels to Watch
Buy zone: $3.30–3.50
Support: $3.20–3.30
Resistance: $4.40 neckline → then $4.90
Wave (3) projection: $4.90–5.20 if structure holds
🧠 This is a strong technical setup backed by converging signals. We’ll be watching closely to see if NG confirms this bullish roadmap.
📊 Full PDF report + updated trading strategies available via email 📬
Is Wave (3) unfolding right now? The setup says YES.
After bouncing from the $2.85 low, Natural Gas has surged and is now forming a classic impulsive wave structure. All major indicators are flashing green:
✅ Momentum & RSI: Bullish crossover confirmed, with RSI holding near 60
✅ Volume: Buyers stepped in hard above $3.50
✅ Elliott Wave: Wave (2) likely completed, Wave (3) is underway with $4.70–4.90 in sight
✅ Cycle Timing: Matches a projected late-May peak before minor pullback
✅ Seasonality: May → June often kicks off major upside runs in NG
✅ COT: Specs still heavily short = fuel for more upside
✅ Chart Patterns: confirmed double bottom with head & shoulders above that needs to be broken
📈 The current pullback may be Wave (2) of (3), with the next leg potentially targeting $4.40–$4.70. Near-term consolidation is healthy, not bearish.
🎯 Trading Levels to Watch
Buy zone: $3.30–3.50
Support: $3.20–3.30
Resistance: $4.40 neckline → then $4.90
Wave (3) projection: $4.90–5.20 if structure holds
🧠 This is a strong technical setup backed by converging signals. We’ll be watching closely to see if NG confirms this bullish roadmap.
📊 Full PDF report + updated trading strategies available via email 📬
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.