Natural Gas: Hurst Cycles - 19th July 2022

US Natural Gas moves up from an 80 day nominal low in late June to reach 80 day FLD resistance. With the 40 day nominal component due to peak here, is the 80 day nominal peak also imminent?

Tools required: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend

Analysis Summary

In our last report into US Natural Gas we anticipated the 80 day nominal low around the end of June. A bearish 10 day component clarified the larger low on 30th June, as phased below on the short term chart. Targets were specified as the 80 day FLD resistance or 8-8.5. Price is currently at this resistance (circa 7.5) as we construct this report.

From 24th June Report:

At the short term it is likely we will get a decent rebound at the 80 day component low here as amplitude is high and we are not yet halfway along the larger 4.5 year component, which is still marginally pushing up. Price is generally straddling the 20 week FLD and this could continue in the rebound. It is also currently at the 20 week upward VTL. An FLD cascade (detailed below) is currently sitting above price, targeting the 8-8.5 area and resistance at the 80 day FLD (light blue, short term chart).