Natural Gas wave 5 to terminate soon?

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 Natural Gas Daily Chart


Prices are moving in a higher highs and higher lows and has started exhibiting negative divergence in many oscillators which is a sign of caution. Prices still have not shown any signs of reversal either in daily and nor in weekly chars.

The energy price has five waves clearly visible in the above chart, which is a sign of exhaustion. Also as er projection it has clearly achieved 38.2% retracement from wave 0 to 3 added to 4. This is an indication that wave 5 is here to end or it can extend towards 61.8% (5.00) levels.

The bias is negative once the prices breaks the level of 4.00 which probably will terminate wave 5 on the higher side and correction on the lower side will start which will slide prices till 3.30 levels.

Comments

kk said…
i have doubt with wave 2
10 March 2025 at 14:01
Megh Mody said…
I think it is (w-x-y) in wave 2
16 March 2025 at 17:00
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