Thursday, September 30, 2010

Natural Gas

Wow, that was fast. Meant to post earlier this morning but dropped off the kid at school.
click to enlarge
Natural Gas saw a clear 5 wave structure down including a gap in the 3rd wave position. Since the lows of the 27th it has had a double zig zag up, filled the gap, and retraced a fib 38% ...textbook.
From the last post,  Fri. Sept 24  Natural Gas Elliott Update ,
"expect to see the lows taken out and longer term targets 3.28 and 2.95 ( the .76 retrace and the c=a respectively) come into play.However given the history for seasonal lows at this time of year any new low under 3.69 that is looking kinda complete, should be all one is looking for."
Still true, though it's getting rather late in the window for a seasonal low.





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