Commodities
MCX Natural Gas Breaks Out, Bullish Reversal Looming
Natural Gas Futures on MCX have shown a clear five-wave impulsive structure on the hourly timeframe, confirming short-term bullish momentum. Following a breakout from a triangle formation on the daily timeframe, the price advanced to this point. The subsequent decline has unfolded as an ABC corrective retracement, indicating a potential pullback within the broader post-breakout structure.
The price is currently stabilizing near key support levels, with the corrective phase appearing mature in structure. This suggests that a bullish reversal may be imminent.