The Natural gas is seen in an Elliot wave structure since Jun.2023 bottom.
The current pullback shall be considered as a wave IV pullback(until the wave I high of 3.015 does not get violated).
From current levels though what should be expected should be a 25% rally (wave V)
towards the 4$ mark.
Also note that the wave markings have been done on an hourly chart but the daily chart is being posted here for the sake of better picture quality. In case anyone interested in having a look at all the internal markings on hourly, they could let me know.
Note*- Futures trading involves leverage and carry significant risks. Please trade with caution and do your own analysis before taking up any financial position.
The current pullback shall be considered as a wave IV pullback(until the wave I high of 3.015 does not get violated).
From current levels though what should be expected should be a 25% rally (wave V)
towards the 4$ mark.
Also note that the wave markings have been done on an hourly chart but the daily chart is being posted here for the sake of better picture quality. In case anyone interested in having a look at all the internal markings on hourly, they could let me know.
Note*- Futures trading involves leverage and carry significant risks. Please trade with caution and do your own analysis before taking up any financial position.