Natural Gas Elliott Wave AnalysisNatural Gas is recovering fast from the low in late August. The commodity is near the highs of June & January 2024 and the late October 2023 high and will most likely hit or breach these highs in the coming weeks. However, this bullish run from October 2023 is part of the larger bullish correction from the February 2024 low. Thus, while the bullish correction persists, short-term traders can continue to buy from the low of pullbacks until it reaches the 2.65-3.37 zone which can act as a resistance.On the daily chart, the price is correcting the impulse wave bearish run from the high of August 2022 when the commodity traded for around $10. This impulse structure has been labeled as wave a of the cycle degree. From 1.522 where cycle degree wave a, the corresponding wave began. Wave b cycle degree is expected to be a corrective structure. Price has already completed primary degree waves A & B (circled) of c in June and August 2024 respectively. From the August low, primary degree wave C (circled) of b emerges into an impulse structure. By projection, wave C (circled) could extend as much as 3.53 and even higher to 4.17. With this potential, short-term traders can continue to buy pullbacks on the hourly charts. 
The H4 chart shows the sub-waves of C (circled) and how far it’s gone. Price is currently in wave 5 of (3) of C (circled). The next pullback will be for wave (4) and if it’s corrective, could be an opportunity to buy from the dip again. 
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