Natural Gas $NG_F Incomplete Bearish Sequences Calling The Decline

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Natural Gas $NG_F .  As our members know, Natural Gas futures has been showing incomplete bearish sequences  in the cycle from the August 23rd peak. We recommended members to avoid buying the commodity. Cycle from the 10.036 peak was incomplete and we knew the drop was coming .  In the further text we are going to explain the Elliott Wave Forecast.

Natrual Gas $NG_F Elliott Wave Analysis 09.18.2022

Natural Gas futures is trading within the cycle from the 10.036 peak. Recently we got break of the 8th September low which made incomplete bearish sequences. First important technical zone comes at 7.844-7.515 area from where we can see 3 waves bounce B red. Then after B red completes, further decline should ideally follow. The commodity is targeting 6.983-6.451 area. From there we expect to see further rally or larger bounce in 3 waves at least.

Reminder: You can learn about Elliott Wave Rules and Patterns at our Free Elliott Wave Educational Web Page.

Natrual Gas $NG_F Elliott Wave Analysis 09.22.2022

The commodity made 3 waves bounce in B red as expected. Decline resumed and we are approaching our target area 6.983-6.461 which can act as support again. It’s important that price holds above 5.595 level, which is 1.618 fib ext from the 10.036 peak which will be invalidation level for the proposed view.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.