Jump to content

IG Trading Support - Dealing Questions

If you have a specific question about trading with IG, ask here. Unsure about margin calculations, dividend adjustments or Sunday Trading, then this is the place for you.


Explore Questions

There are no popular questions to show right now

  1. 0 votes
    0 answers
  2. 0 votes
    0 answers
  3. 0 votes
    0 answers
  4. 0 votes
    0 answers
  5. 0 votes
    0 answers

3,140 questions in this forum

  1. Add the ticker

    0 votes
    0 answers
  2. 1 vote
    3 answers
  3. 0 votes
    2 answers
  4. 0 votes
    0 answers
  5. Cant cancel order

    0 votes
    0 answers
  6. 0 votes
    0 answers
  7. These platform outages are unacceptable

    0 votes
    0 answers
  8. 0 votes
    0 answers
  9. 0 votes
    4 answers
  10. Shocking support

    0 votes
    1 answer
  11. Account Activation

    0 votes
    1 answer
  12. Red dot on American Airlines

    0 votes
    0 answers
  13. LVMH

    0 votes
    0 answers
  14. SPCE & NKLA Shorting

    0 votes
    0 answers
  15. your web site is absolutly usless

    0 votes
    1 answer
  16. 0 votes
    0 answers
  17. Forward contracts button

    0 votes
    0 answers
  18. mg

    0 votes
    0 answers
  19. Apple (All Sessions)

    0 votes
    3 answers
  20. trade stocks

    0 votes
    0 answers
  21. Size Currency

    0 votes
    0 answers
  22. ISA Limit exceeded

    0 votes
    0 answers
  23. How do I make my shares 'unborrowable'?

    4 votes
    0 answers
  24. Fees & Commissions

    0 votes
    0 answers
  25. i am not able to trade FUNG..

    0 votes
    1 answer
  26. WBen form for US trading

    0 votes
    4 answers
  27. 0 votes
    1 answer
  28. 2 votes
    0 answers
  29. 0 votes
    0 answers
  30. Why IG is charging additional Overnight fees?

    0 votes
    7 answers
  • Our picks

    • Are these the best AI stocks to watch in May 2024?
      Microsoft, Apple, Nvidia, Amazon and Meta could be the best AI stocks to watch next month. These stocks are the largest AI stocks in the US based on market capitalisation.
    • Are these the best AI stocks to watch in May 2024?
      Microsoft, Apple, Nvidia, Amazon and Meta could be the best AI stocks to watch next month. These stocks are the largest AI stocks in the US based on market capitalisation.
    • Natural Gas Commodity Elliottwave Technical Analysis
      Natural Gas



      Mode - Impulsive 



      Structure - Impulse Wave 



      Position - Wave (iii) of 5



      Direction - Wave (iii) of 5 still in play



       



      Details:  Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse.



       



      Natural Gas is currently breaching the previous April low, marking a decisive move as the impulse initiated on 5th March continues its downward trajectory, further extending the overarching impulse wave sequence that commenced back in August 2022. This decline is anticipated to persist as long as the price remains below the critical resistance level of 2.012.



       



      Zooming in on the daily chart, we observe the medium-term impulse wave originating from August 2022, which is persisting in its downward trend after completing its 4th wave - delineated as primary wave 4 in blue (circled) - at 3.666 in October 2023. Presently, the 5th wave, identified as primary blue wave 5, is underway, manifesting as an impulse at the intermediate degree in red. It is envisaged that the price will breach the February 2024 low of 1.533 as wave 5 of (3) seeks culmination before an anticipated rebound in wave (4). This confluence of price movements underscores the bearish sentiment prevailing over Natural Gas in the medium term.



       



      Analyzing the H4 chart, we initiated the impulse wave count for wave (3) from the level of 2.012, which marks the termination point of wave 4. Notably, price action formed a 1-2-1-2 structure, with confirmation established at 1.65 and invalidation set at 2.012. The confirmation of our anticipated direction materialized as price breached the 1.65 mark, signifying a resumption of bearish momentum. Presently, there appears to be minimal resistance hindering the bears, thereby reinstating their dominance in the market. It is projected that wave iii of (iii) of 5 will manifest around 1.43, indicative of the potential for the wave 5 low to extend to 1.3 or even lower. This comprehensive analysis underscores the prevailing bearish outlook for Natural Gas in the immediate future.



       







       







       




      Technical Analyst : Sanmi Adeagbo
       
×
×
  • Create New...
us