Tuesday, February 9, 2010

Natural Gas Short Term

click to enlarge
Notice the Fib retrace points are for the last leg down only. That leg may be a (3) of -1- but it's too early to label with confidence. The bounce looks choppy and the 50% at 5.515 would have to be exceeded to start rethinking expectations of lower lows. Minimal downside target, 5.30 as .618 of (1) thru (3).

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