NATURAL GAS 1D Death Cross ahead. Lower Lows expected.

It was last September (2021) where I first starting calling for a market top on Natural Gas, which at the time seemed odd to the majority of the energy market participants as it was coming off a very aggressive 6 month rally. It wasn't odd though based on NG's long-term, multi-year cyclical behavior as I accurately displayed on the following chart:


Back to today, and the 1D time-frame, the price is about to form a 1D Death Cross, which happens when the 1D MA50 (blue trend-line) crosses below the 1D MA200 (orange trend-line) and is considered to be a bearish formation. The last 1D Death Cross after a Cycle Top was formed on February 21 2019. It was on that period that NG made a new Low and gradually entered a structured bearish pattern on Lower Lows (Channel Down ish), with the 1D MA50 acting as Resistance. Check also the MACD indicator which is virtually identical between those two periods.

My long-term targets are the 1.236, 1.5 and 1.618 Fibonacci extensions successively, which were the Lower Lows targets of the 2019 pattern.


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