Natural Gas, wave 2 of some lower degree is possible completed now, and now at same degree wave 3 may unfold next, with invalidation level of wave 1's low, which is pegged at $ 6.426
If it breaks low of wave 1 ($ 6.426) then it may be invalidate our current bias.
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This is a monthly timeframe analysis . After a Triangle Breakout, it hit the target and now retracing for the next movement . Levels $5-$6 acted as crucial support from the month of June . For further up move we can expect the price to consolidate some time and retest the demand zones (Support Zone Order Block) for a further up move . It might or not take a 3-4...
Natural Gas is looking good to go long as per wave structures suggesting impulse to unfold, with invalidation levels of $ 6.725.
RK's mass psychological cloud is also suggesting positive ahead, along with macd positive support.
Natural gas had given trendline breakout along with good intensity of volumes on hourly chart.
After positive divergence, breakout with...
Natural Gas price has turned down after hitting the 8 dollar mark recently, based on the reversal on RSI from higher levels and MACD indicator pointing downwards
One can Sell Natural Gas at 6.940, with a stop loss of 7.450
The target for this trade is 6 & 5.4
The time frame for this trade is till 31-Dec-2022
Natgas short side from here. if natgas break 6.370 than my target is 6.096 and close below 6 dollar on day candel than it will go on big down fall movement. SL 6.519 on closing basis
Natural gas formed a double top on 1hr chart now it is trying to go its previous low and she can see that level in the upcoming days.
Disclaimer: These are not any recommendations for any funds or stocks and are meant only for educational purposes.
RSI divergence in one day time frame. if break and close above 6.820 and trade 4h above this level good to buy this risk reward favorable SL 6.490 closing basis
After sharp fall from top of the wave 5 or we can say top of June month, it has fallen in five subdivided pattern as a wave A, which clearly shows that correction is in zigzag pattern, we all know some basic rules for zig-zag correction, that it comes in three subdivisions like A-B-C, and wave A always subdivides into an impulse or leading diagonal, and wave B...
Natural Gas go hand in hand both in international market as well as Indian market. Here we present natural gas Elliott Wave Analysis. It is showing a 5 wave decline as wave A and again will go up for a three wave B, then again come down in a C wave.
You can correlate this chart with MCX Natural gas. Both are the same. Hope it will enlighten your commodity...
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