Tuesday, February 16, 2010

Natural Gas Update


 
click to enlarge
This sub wave  labeling may still turn out a little differently....However;
the corrective choppy move up from the 5.06 lows has taken long enough that the whole thing appears to be an abc structure, correcting the fist abc down. That spot month  6.11 to 5.06 move of 1.05 will be equaled at 4.50 if todays high completed the abc structure up. That is just under the Mar contract low of 4.56, and would be consistent with a B wave of larger degree.

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