
Elliott Wave View in Natural Gas (NG) suggests it is correcting cycle from June 22, 2020 low in larger degree 3, 7, or 11 swing. The decline is unfolding as a flat elliott wave structure. Down from October 6, 2021 peak (6.47), wave ((A)) ended at 4.825 and rally in wave ((B)) ended at 6.291. Wave ((C)) lower is in progress as a 5 waves impulse. The 1 hour chart below shows wave (3) of ((C)) ended at 3.617. Wave (4) of ((C)) bounce ended at 4.261 as an expanded flat structure.
Up from wave (3), wave A ended at 4.041, and pullback in wave B ended at 3.599. Wave C higher ended at 4.261 which also completed wave (4). The commodity has extended lower in wave (5) with internal subdivision as an impulse. Down from wave (4), wave ((i)) ended at 4.045 and wave ((ii)) ended at 4.181. Near term, expect rally to fail in 3, 7, or 11 swing as far as pivot at 4.261 high stays intact for further downside. Once the 5 waves down from wave (4) high is complete, it could either complete wave 1 of (5), or it could end the entire wave (5).
Natural Gas 1 Hour Elliott Wave Chart
Written by Admin
Product categories
Finance news
Stocks making the biggest moves midday: Micron, Kohl’s, Meta Platforms and moreThese are the stocks posting the largest moves in midday trading. Signal2frex feedbacks ... Read More ![]() FTX signs a deal giving it the option to buy crypto lender BlockFiSam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, ... Read More ![]() The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategyStock trader on the floor of the New York Stock Exchange.Spencer Platt | Getty Images ... Read More |