Natural Gas H1: Wave Analysis for the European Session on 22.1.2026

Although the market continues to move higher, the Natural Gas chart is showing some signs of fatigue in the upward momentum.
The current dynamics of the movement indicate the formation of a triple three. At the moment, the wave [xx] has been formed. After its formation the development of a downward wave [z] is expected.
Within a lower-degree wave structure, the development of a triple three is noted. The formation of the wave (z) is being completed in this structure. Against this background, the completion of correction and the beginning of a more directional movement are expected.
Thus, an upward movement continues to form on the Natural Gas chart, but this impulse is at the final stage of formation so the price may resume a downward movement.
In this case, the emphasis is on short positions that can be considered at current levels.
Alternative scenario
Long positions should be looked for after the breakout of the top of the current wave.