Wednesday, September 8, 2010

Natural Gas

Natural Gas is giving every indication of having been in a "flat" corrective structure over the last 10 days.
It has been chopping sideways in "abc" structures with lots of overlaps.
It cannot be described as being in an impulse wave up. YET.  And while the  likelihood of seasonal lows are to be anticipated here, it sure looks like they are still ahead of us. See
Natural Gas /Seasonal Lows


Natty typically DOES structure itself in abc's and I have seen deceptive basing action in the past, but compare the current chart above with the Oct. of 2009 chart below.


 In the first 3 days of it's reversal off 2.40  it appreciates 25%.
The 3.28/3.35 targets remain. Pls see post from Aug.25th
Natural Retesting .618 Retrace
or any of the preceding NG posts really.

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