Natural Gas Breakout Sets Stage for Potential Upward Move

Natural Gas futures have been on an upward trend following a breakout from a triangle formation on the daily timeframe. The price has advanced in a five-wave impulsive structure on the hourly timeframe, indicating short-term bullish momentum.

However, the subsequent decline has unfolded as an ABC corrective retracement, suggesting 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 could indicate that the market is preparing for another upward move.