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 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.

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