FX.co ★ Elliott wave analysis of Natural Gas for August 12, 2022

Nothing has changed in regard to the larger picture. We continue to look for more upside in wave 5 towards at least 13.59 and possibly closer to the extension target seen at 18.63 to complete the impulsive rally from the 1.44 low back in June 2020.

Short-term, we would like to see a break above resistance at 9.75 to confirm the rally towards the first target at 13.59. Support is currently seen near 8.40.