FX.co ★ Elliott Wave Analysis of Natural Gas for June 28, 2021

Natural Gas just complete a cup with handle bottom calling for a rally towards 5.26. We currently see support at the cup with handle neckline at 3.40 and key support that should be able to protect the downside is seen at 3.13.

Longer term we will be looking for much higher levels, but expect resistance in the 4.92 - 5.26 zone should spark a period of consolidation before the next push higher towards 6.13 - 6.49 as the next target zone

Trading recommendation:

Buy Natural Gas or UNG to get exposure and place you stop at 3.10 for the rally to the 4.92 - 5.26 target-zone