Natural Gas (NG) Technical Outlook – May 7, 2025
Is Wave (3) unfolding right now? The setup says YES.
After bouncing from the $2.85 low, Natural Gas has surged and is now forming a classic impulsive wave structure. All major indicators are flashing green:
✅ Momentum & RSI: Bullish crossover confirmed, with RSI holding near 60
✅ Volume: Buyers stepped in hard above $3.50
✅ Elliott Wave: Wave (2) likely completed, Wave (3) is underway with $4.70–4.90 in sight
✅ Cycle Timing: Matches a projected late-May peak before minor pullback
✅ Seasonality: May → June often kicks off major upside runs in NG
✅ COT: Specs still heavily short = fuel for more upside
✅ Chart Patterns: confirmed double bottom with head & shoulders above that needs to be broken
📈 The current pullback may be Wave (2) of (3), with the next leg potentially targeting $4.40–$4.70. Near-term consolidation is healthy, not bearish.
🎯 Trading Levels to Watch
Buy zone: $3.30–3.50
Support: $3.20–3.30
Resistance: $4.40 neckline → then $4.90
Wave (3) projection: $4.90–5.20 if structure holds
🧠 This is a strong technical setup backed by converging signals. We’ll be watching closely to see if NG confirms this bullish roadmap.
📊 Full PDF report + updated trading strategies available via email 📬
Is Wave (3) unfolding right now? The setup says YES.
After bouncing from the $2.85 low, Natural Gas has surged and is now forming a classic impulsive wave structure. All major indicators are flashing green:
✅ Momentum & RSI: Bullish crossover confirmed, with RSI holding near 60
✅ Volume: Buyers stepped in hard above $3.50
✅ Elliott Wave: Wave (2) likely completed, Wave (3) is underway with $4.70–4.90 in sight
✅ Cycle Timing: Matches a projected late-May peak before minor pullback
✅ Seasonality: May → June often kicks off major upside runs in NG
✅ COT: Specs still heavily short = fuel for more upside
✅ Chart Patterns: confirmed double bottom with head & shoulders above that needs to be broken
📈 The current pullback may be Wave (2) of (3), with the next leg potentially targeting $4.40–$4.70. Near-term consolidation is healthy, not bearish.
🎯 Trading Levels to Watch
Buy zone: $3.30–3.50
Support: $3.20–3.30
Resistance: $4.40 neckline → then $4.90
Wave (3) projection: $4.90–5.20 if structure holds
🧠 This is a strong technical setup backed by converging signals. We’ll be watching closely to see if NG confirms this bullish roadmap.
📊 Full PDF report + updated trading strategies available via email 📬
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.