FX.co ★ Elliott wave analysis of Natural Gas for June 19, 2023

Natural Gas saw a very deep corrective decline after testing resistance at 10.03. The correction from 10.03 to a low of 1.95 has now been completed and we should expect NG to move higher to test resistance at 3.03 soon. A break above resistance at 3.03 will call for a continuation higher toward the next strong resistance at 4.77 and 7.60.

Support is now seen at 1.95 which is expected to act as a floor for the test and break above 3.03.