FX.co ★ Natural Gas (NG)

Hello traders! In the #NG market, analyzing the highly compressed H4 chart at the average wave level, we conducted a comprehensive multi-timeframe analysis. It included Elliott Wave Analysis (EWA), MACD histogram readings (Moving Average Convergence Divergence indicator), and the positioning of Smoothed Exponential Moving Averages with periods of 55, 89, 144. Taking into account the probability of various technical and wave analysis models, the main scenario suggests that a wave cluster (X) is currently forming or has already formed. Therefore, we expect a soon update of the key level at 2.779.