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. Trulieve Cannabis Corp

    0 votes
    2 answers
  2. Rezakiyani3

    0 votes
    2 answers
  3. Selling off certificated shares

    0 votes
    1 answer
  4. Opening a spread betting account.

    0 votes
    1 answer
  5. API key allowrance increasing

    0 votes
    3 answers
  6. Equity options trading

    0 votes
    2 answers
  7. Market Not Available Online

    0 votes
    0 answers
  8. AINV Dividend

    0 votes
    1 answer
  9. IG is busy annoying me

    0 votes
    10 answers
  10. Dividends

    0 votes
    1 answer
  11. wall street cash 1 Euro

    0 votes
    1 answer
  12. Altering stop loss after market is closed

    0 votes
    3 answers
  13. Minimum bet size changes?

    0 votes
    3 answers
  14. Where to find Index Options on the new platform?

    0 votes
    1 answer
  15. Frozen Saturday

    0 votes
    3 answers
  16. Wall street finish up

    0 votes
    1 answer
  17. Demo - Trade gets closed

    0 votes
    1 answer
  18. HIN Number

    0 votes
    5 answers
  19. buying us stock from the UK

    0 votes
    1 answer
  20. Hedging

    0 votes
    4 answers
  21. mintoze

    0 votes
    1 answer
  22. Vedanta PLC

    0 votes
    1 answer
  23. Leverage

    0 votes
    2 answers
  24. 0 votes
    6 answers
  25. Guaranteed stop , margin percentage

    0 votes
    0 answers
  26. Professional trader

    0 votes
    0 answers
  27. Demo Account

    0 votes
    2 answers
  28. trading in forex possible but not in stock

    0 votes
    1 answer
  29. Understanding working orders

    0 votes
    8 answers
  30. Guaranteed Stops

    0 votes
    1 answer
  • Our picks

    • International Workers' Day & Early May Trading Hours
      Please be advised that our opening hours will be adjusted on 1 May 2024 for International Workers’ Day and 6 May 2024 for the UK Early May Bank Holiday. Where appropriate, the times listed are in GMT.
        • Like
    • 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