Tuesday, August 10, 2010

Natural Gas

From Wed Aug. 4    NG
"In any case another structure down from here is very likely, in 3 or 5 waves, targeting at least 3.30 as a .76 retrace of 2.40 to 6.11.
Obviously the neckline cuts around 4.40 to 4.45.
Note the MACD starting to roll over." 
 
And so it has.....the head and shoulders neckline break projects to about 3.35.
Shorter term in a bit of a consolidation that implies more downside to come.



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