Strong Bullish Momentum – Price Near Key Breakout Zone
Natural Gas has continued its upward rally, supported by strong momentum and Elliott Wave structure. Price action suggests that we are currently in Wave 3, which typically produces the strongest impulsive move in the cycle.
The recent breakout above major resistance & rising demand signals sustained strength, while RSI remains bullish but slightly overbought—implying short-term pullback possibilities before further upside.
📍 Current Market Position
Trading around $5.13 with bullish continuation structure
Clean breakout above descending trendline resistance
Holding above strong support cluster of $4.70 – $4.50
RSI near 72, showing aggressive buying but close to exhaustion zone
📈 Elliott Wave Projection
Wave count suggests:
Wave 1 completed at $3.70 – $4.00
Wave 2 corrective low near $2.75
Wave 3 in progress, targeting upside expansion
🎯 Upside Target Zones
Target - Comment
$5.60 – $6.00 - Local resistance zone
$6.16 – $6.64 - Wave 3 extension target
$7.20 – $7.60 – $8.30 - Major supply zone / Wave 3 top possible
$10.00 – $11.55 - Final Wave 5 long-term target region
🟦 Key Buy Opportunity Zones (Pullback levels)
Support area - Comment
$4.70 – $4.50 - First dip buying zone
$4.25 – $4.10 - Strong demand base
$3.00 – $2.75 - Wave 2 reference zone / deep correction low
Only a breakdown below $2.75 would invalidate long-term bullish structure.
📊 RSI View
RSI currently at 71.88 (overbought region)
Possible small correction / sideways consolidation expected
Re-entry signals likely on RSI retracement to 45–55 zone
🎯 Trading Strategy (Personal Bias)
Bullish
Buy dips toward $4.70 / $4.50
Add aggressively if price holds $4.10 support
Target $6.00 → $6.64 → $7.60 → $8.30
Bearish invalidation
Close below $2.75
🧠 Conclusion
Natural Gas remains structurally bullish with Wave 3 expansion underway. Short-term corrections should provide strong opportunities to accumulate long positions for larger targets ahead.
💬 What is your view?
Do you expect Wave 3 to extend sharply?
Comment “Extended 3” if bullish or “Correction first” if expecting pullback.
Previous Analyses:
⚠️ Disclaimer
Educational Elliott Wave analysis only — Not investment advice. Manage risk appropriately.
Natural Gas has continued its upward rally, supported by strong momentum and Elliott Wave structure. Price action suggests that we are currently in Wave 3, which typically produces the strongest impulsive move in the cycle.
The recent breakout above major resistance & rising demand signals sustained strength, while RSI remains bullish but slightly overbought—implying short-term pullback possibilities before further upside.
📍 Current Market Position
Trading around $5.13 with bullish continuation structure
Clean breakout above descending trendline resistance
Holding above strong support cluster of $4.70 – $4.50
RSI near 72, showing aggressive buying but close to exhaustion zone
📈 Elliott Wave Projection
Wave count suggests:
Wave 1 completed at $3.70 – $4.00
Wave 2 corrective low near $2.75
Wave 3 in progress, targeting upside expansion
🎯 Upside Target Zones
Target - Comment
$5.60 – $6.00 - Local resistance zone
$6.16 – $6.64 - Wave 3 extension target
$7.20 – $7.60 – $8.30 - Major supply zone / Wave 3 top possible
$10.00 – $11.55 - Final Wave 5 long-term target region
🟦 Key Buy Opportunity Zones (Pullback levels)
Support area - Comment
$4.70 – $4.50 - First dip buying zone
$4.25 – $4.10 - Strong demand base
$3.00 – $2.75 - Wave 2 reference zone / deep correction low
Only a breakdown below $2.75 would invalidate long-term bullish structure.
📊 RSI View
RSI currently at 71.88 (overbought region)
Possible small correction / sideways consolidation expected
Re-entry signals likely on RSI retracement to 45–55 zone
🎯 Trading Strategy (Personal Bias)
Bullish
Buy dips toward $4.70 / $4.50
Add aggressively if price holds $4.10 support
Target $6.00 → $6.64 → $7.60 → $8.30
Bearish invalidation
Close below $2.75
🧠 Conclusion
Natural Gas remains structurally bullish with Wave 3 expansion underway. Short-term corrections should provide strong opportunities to accumulate long positions for larger targets ahead.
💬 What is your view?
Do you expect Wave 3 to extend sharply?
Comment “Extended 3” if bullish or “Correction first” if expecting pullback.
Previous Analyses:
⚠️ Disclaimer
Educational Elliott Wave analysis only — Not investment advice. Manage risk appropriately.
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.