NATGAS 4-hour Elliott Wave Theory analysis. Post-115.160 peak Wave 4 triangle correction, (a)-(b)-(c)-(d)-(e) structure and critical trendline support. Updated technical analysis.
The recent movements in the Natural Gas (NATGAS) market at the beginning of May 2026 indicate a significant turning point within the Elliott Wave Theory framework. Detailed examination on the 4-hour chart shows that major Wave 3 has completed and Wave 4 is in a complex triangle correction structure.
Elliott Wave Analysis: Current Structure
Examining the chart from the left side; after Wave 2 correction, Wave 3 impulsive movement began. The sub-waves within Wave 3 — (i)-(ii)-(iii)-(iv)-(v) — are clearly identifiable. Particularly, Wave 3(iii) peak formed at 115.160, completing this major impulsive wave.
We are currently within Wave 4 correction. This correction typically occurs in an (a)-(b)-(c)-(d)-(e) triangle structure:
Table
| Wave | Status | Target Level | Note |
|---|---|---|---|
| (a) | ✅ Completed | ~90.000 | First decline |
| (b) | ✅ Completed | ~105.000 | Rebound |
| (c) | ✅ Completed | ~82.500 | Second decline |
| (d) | ✅ Completed | 107.331 | Resistance zone |
| (e) | ⏳ Pending | ~80.000 | Trendline support |
Wave (d) rebound may extend to 107.331 resistance zone as a retracement of Wave (c)'s decline. This level is also marked on the chart as a significant resistance zone. Once Wave (d) completes, Wave (e) decline will begin, with ~80.000 (Wave 4(iv) trendline support) as the critical support target.
Alternative Scenario
If Wave (d) breaks above 107.331, the triangle structure may expand. However, the main scenario maintains trendline support and anticipates Wave 5 impulsive move beginning from there. In extreme cases, Wave (e) could deepen to 77.500 (Wave 4(iv) lower band).
Why Does It Matter?
Wave 4 triangle corrections in Elliott Wave Theory represent the consolidation period before the trend continues. During this period:
• Risk management is critically important • Position sizes should be reviewed • Wave (e) dip may offer long position opportunities • Triangle breakout provides important clues about Wave 5's strength
Conclusion
NATGAS 4-hour chart shows active Wave 4 triangle correction. While Wave (d) rebound is completing targeting 107.331 resistance, Wave (e) is expected with ~80.000 trendline support target. When Wave (e) completes, new positions for Wave 5 impulsive move can be evaluated. This analysis is for educational purposes; please do your own research before making investment decisions.