FX.co ★ Elliott wave analysis of Natural Gas for May 31, 2022

Natural Gas (NG) is headed towards the 11.30 target. As we often see within the commodity complex, wave 5 turns into a runaway rally. This could be the case here too. If this proves to be the case, then 11.30 will only be a temporary stop on the way higher to 16.10 and maybe even higher than that.

Support is now seen at 7.66 and solid support is seen at 6.43.