Elliott Wave Analysis on Natural Gas (XNGUSD) – Potential Wave 5We are observing a classic Elliott Wave structure unfolding on the Daily timeframe of Natural Gas (XNGUSD). Here's a breakdown of the current wave count:
Wave (1) started the initial impulse move up breaking the previous downtrend.
Wave (2) retraced sharply but respected the Fibonacci support zone.
About Natural Gas (Henry Hub)
Natural Gas (NGAS) is a fossil fuel formed from plants and animals buried underground and exposed to extreme heat and pressure. Natural gas is used domestically for cooking, as a power source, in agriculture, and in industrial manufacturing. Natural gas prices fluctuate constantly depending mainly on production issues, stockpiles, weather conditions, economic growth, crude oil prices, and more recently coal. Natural gas is commonly measured in MMBtu, with 1 MMBTu equaling 1 million BTU (British Thermal Units).
Naturalgas downtrend Movement upto 3.2Symbol Naturalgas
Timeframe 1 hour
Analysis Breakout Below the suport line
can expect a downtrend movement upto 3.2
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Natural Gas - Why I am Bullish for last few months? LOGIC.A rise or fall is essential part of the market.A fall may be either a BUYING opportunity
or a SELLING opportunity. It all depends on the Trend.
In my previous post, I predicted a BULLISH Natural Gas on 3Month timeframe. But it does not mean it will rise each day for next 6 to 12 months. It will be
XNGUSD (US Natural Gas (Spot)) @ 3.975: Bull or Bear? Analysis oAs long as 4.707, we can see more fall towards 3.5/3.2/2.79/2.52
As of now, NG has done minimum downside target at 3.975.
I expect to see some correction towards 4.1-4.16.
More bullish scenario of the correction would be towards 4.26/4.44
Reversal from these levels 4.1-4.5, we can see another round
Naturalgas Uptrend Movement Expected upto 4.0Symbol Naturalgas
Timeframe 4 Hrs
A
Analysis : Breakout from the W Pattern.. Target expected is T1 = 3.7, T2= 4.0, T3= 4.6
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Please note: Published ideas are for educational purposes only. Trade at your own risk.
Also, please respect t
NATURAL GAS - CAPPED UPSIDE & MORE DOWNSIDE?Symbol - XNGUSD
Natural Gas has recently been trading within a wedge pattern, which has now broken to the downside. This technical development suggests that the upside potential appears capped for the time being. The market is currently testing critical levels, and the broader outlook seems to be m
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Displays a symbol's price movements over previous years to identify recurring trends.