Tuesday, January 19, 2010

Natural Gas Update


click to enlarge
While NG could still be consolidating within the range seen over the last week or so, the break below the little neckline and the fact that it has retraced nearly .618 of the move down already, argues in favor of a resumption of the larger trend down. 
Another leg down from 5.81 equal to the 1st targets 5.06, and the .618 retrace of the completed C leg up is at 4.91

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