Natural Gas Elliott Wave Technical Analysis
Natural Gas prices have been steadily recovering since the April 24th low, following the broader pullback that began in March. If Natural Gas holds above the April 24th support level, the commodity could target the $6.00 region in the coming weeks, continuing its bullish recovery trend.
Natural Gas Daily Chart Analysis
Since August 2022, Natural Gas (NG) prices declined from around $10.00, completing a bearish Elliott Wave impulse structure by February 2024 near $1.50. In Elliott Wave terms, after a completed 5-wave decline, a corrective 3-wave structure typically follows. After forming the February 2024 bottom, Natural Gas has been correcting the prior impulsive downtrend.
The daily chart indicates that the rally from February is unfolding as a complex double zigzag Elliott Wave pattern.
- Wave w of the cycle degree finalized with a zigzag correction by March 2025.
- A corrective pullback completed cycle degree Wave x in April 2025.
- The ongoing rally is developing as Wave y of (b), aiming toward a target near $6.25, provided bullish momentum continues.
Natural Gas 4-Hour Chart Analysis
The 4-hour chart analysis shows two potential scenarios for the recovery from the April low:
- A 5-wave impulsive advance, or
- A 3-wave corrective rally, aiming toward the $4.23 target or at least the $3.86–$4.00 zone.
As long as Natural Gas remains above the critical $2.86 April 2025 low, the broader bullish bias remains intact. Short-term pullbacks are expected to offer buying opportunities, aligning with the larger bullish Elliott Wave structure.
Technical Analyst: Sanmi Adeagbo
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