Commodities
Natural Gas Price Movement Exhibits Clear Five-Wave Impulse Pattern
Natural Gas prices have experienced significant fluctuations over the past few years, according to an analysis of its price movements. From 2020 to 2022, Natural Gas developed a clear five-wave advance, reaching a major peak near $801 in 2022.
The five-wave impulse started with Wave I advancing from approximately $110.5 to around $251.3, followed by Wave II correcting to about $165. Then, Wave III extended strongly from $165 to around $485, after which Wave IV declined to roughly $265.5. Finally, Wave V advanced from $265.5 to the 2022 high near $801.
The analysis covers a period of two years, from 2020 to 2022, and provides insights into the price movements of Natural Gas during this time frame.