Wednesday, September 30, 2009

Natural Gas Hitting It's Marks


 
 Click on Chart
Natural Gas is almost text book at this point. It reversed from the .618 retrace at  yesterday's low, and made an easily counted 5 waves up to 4.975. See Natural Gas Wave Count where 5.00 is targeted as C=A up.  So is that it?  Since then it has had what looks like an abc down to retrace .618 (about) of yesterday's rally. The 5 count up yesterday and corrective look of the little retrace suggest further highs are probable. If the next  leg is "c" = "a",  with "a" 4.39 to 4.99 it targets 5.20. If "c" =1.618 of "a" it targets 5.57, also C =1.382 of A. So If it can make new highs 5.20 then 5.57.

Oh I almost forgot. The fib .236 retrace of 15.78 to 2.40 is 5.57

No comments:

Post a Comment