Natural Gas (NG1!) Analysis - Powerful Signals on the Weekly Chart (with an Aggressive View)
Hey everyone! I’m Mehdi, your Elliott Wave analyst, and today we’re diving deep into the Natural Gas (NG1!) weekly chart. Get ready, because the patterns are starting to speak! 🗣️🔍
Our Key Starting Point: Beginning (Price $1.5135) 🚩 - This is where our story begins.
The Bullish Run and Recent Correction:
Starting from around
10.0391! 🚀📈
After that exhilarating surge, a significant correction unfolded. This correction, Wave II, behaved like an “aggressive zigzag” and brought the price down to a low of $1.5310 in August 2022. This correction itself showed interesting patterns, including a triangle and then a diagonal move that reached Fibonacci targets. 〰️📉
What’s Next? Key Levels to Watch: 👀🚨
Watch This Level Closely: $2.5085
If the price drops and holds below this level, it means corrections could get deeper, so we need to be cautious. ⚠️
First Green Light: Breaking Above $2.5085 ✅
This suggests we might be seeing the start of a renewed bullish trend.
Conservative Bullish Confirmation: $7.4312 🐂
When the price powerfully breaks and sustains above this level, there’ll be no doubt! This signals the start of a strong, long-term bullish trend on the weekly chart.
Aggressive Bullish Idea: $3.4783 🔥
Aggressive Idea: A decisive break and hold above $3.4783 could be an even earlier sign of a powerful Bull Market beginning. This is an early bird signal for more risk-tolerant traders.
Potential Scenarios Ahead: ❓
Further Correction: Price might dip a bit more, forming a new corrective pattern. ↘️
Major Move Start: Price could explode from current levels, initiating a new bullish wave. 🧨
Surprise Move: We might see another corrective pattern before the main rally. 🤷
The patterns whisper, and I hear them - Mr. Nobody
Hey everyone! I’m Mehdi, your Elliott Wave analyst, and today we’re diving deep into the Natural Gas (NG1!) weekly chart. Get ready, because the patterns are starting to speak! 🗣️🔍
Our Key Starting Point: Beginning (Price $1.5135) 🚩 - This is where our story begins.
The Bullish Run and Recent Correction:
Starting from around
10.0391! 🚀📈
After that exhilarating surge, a significant correction unfolded. This correction, Wave II, behaved like an “aggressive zigzag” and brought the price down to a low of $1.5310 in August 2022. This correction itself showed interesting patterns, including a triangle and then a diagonal move that reached Fibonacci targets. 〰️📉
What’s Next? Key Levels to Watch: 👀🚨
Watch This Level Closely: $2.5085
If the price drops and holds below this level, it means corrections could get deeper, so we need to be cautious. ⚠️
First Green Light: Breaking Above $2.5085 ✅
This suggests we might be seeing the start of a renewed bullish trend.
Conservative Bullish Confirmation: $7.4312 🐂
When the price powerfully breaks and sustains above this level, there’ll be no doubt! This signals the start of a strong, long-term bullish trend on the weekly chart.
Aggressive Bullish Idea: $3.4783 🔥
Aggressive Idea: A decisive break and hold above $3.4783 could be an even earlier sign of a powerful Bull Market beginning. This is an early bird signal for more risk-tolerant traders.
Potential Scenarios Ahead: ❓
Further Correction: Price might dip a bit more, forming a new corrective pattern. ↘️
Major Move Start: Price could explode from current levels, initiating a new bullish wave. 🧨
Surprise Move: We might see another corrective pattern before the main rally. 🤷
The patterns whisper, and I hear them - Mr. Nobody
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.