Jump to content

IG Account Support - MyIG Help

Log in questions, tax reports, account settings, stock transfers, account status, and payments questions should all be asked here.


Explore Questions

  1. 1 vote
    13 answers
  1. Signals

    Asked by API,

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

1,830 questions in this forum

  1. Can I trade stocks on IG?

    0 votes
    0 answers
  2. 0 votes
    1 answer
  3. Is my Account Active?

    0 votes
    6 answers
  4. Client call back requests

    0 votes
    2 answers
  5. Account Activation problems

    0 votes
    3 answers
  6. 0 votes
    0 answers
  7. Setting of Account

    0 votes
    0 answers
  8. ISA Share Account

    0 votes
    0 answers
  9. OTC Markets

    0 votes
    0 answers
  10. 0 votes
    0 answers
  11. 0 votes
    2 answers
  12. How to keep in $

    0 votes
    0 answers
  13. 0 votes
    0 answers
  14. CFD ACCOUNT PENDING

    0 votes
    0 answers
  15. Account Activation issue

    0 votes
    1 answer
  16. Limited Risk Account

    0 votes
    2 answers
  17. I can't close my deal

    0 votes
    1 answer
  18. ig international

    0 votes
    0 answers
  19. reapply for cfd trading

    0 votes
    0 answers
  20. deposit

    0 votes
    4 answers
  21. TFN update

    0 votes
    0 answers
  22. 0 votes
    0 answers
  23. Koestler

    0 votes
    0 answers
  24. investor share code

    0 votes
    0 answers
  25. Pat

    0 votes
    0 answers
  26. Account pending

    0 votes
    0 answers
  27. 2FA App got reset

    0 votes
    0 answers
  28. Mr

    0 votes
    0 answers
  29. SMSF account

    0 votes
    0 answers
  30. Annual statement

    0 votes
    0 answers
  • 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