Natural Gas Update

Been awhile.
NG is finally taking out the downward sloping trend lines that have defined the market structure for the last 18 months.
click to enlarge

click to enlarge
I believe the low on May 20 of 4.077 was the end of the 18 month choppy, complex B wave down.
The next series of abc's will equal the 1st series up @ 7.80 (roughly).
The 50% retrace of the 13.70 to 2.40 C wave is @ 8.10.
The .382 retrace of 15.78 to 2.40 is @ 7.48
click to enlarge
The natty was hardy damaged by the viscous sell off in crude and the SP's.
Let's see if it can gain momentum on a settle over those trend lines.


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