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Natural Gas – Elliott Wave Projection

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Free nse natural gas chart calls

Free nse natural gas chart calls

Timeframe: 4h
After making a high of 3.192, the price has started falling. The natural gas has formed an impulsive sub-structure of wave C. The ADX of the price is 33.7, while the ATR has dropped to 0.0298. The prices are trading below the 50/100/200 EMA band.

According to the wave principle, the price has accomplished wave C of wave (2) at 2.94 and has started collapsing for wave (3). It looks like wave (3) occurred at 2.98, with an ending diagonal spotted near 2.298. The bull run must surpass the rise of wave (4) and then fall in wave (5). After the wave (5) accomplishment, traders can expect new sub-waves of an upward impulsive cycle. Note that if we find any truncated wave (5), it will signal the beginning of the new cycle.

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