Showing posts from February, 2013

Natural Gas Measured Targets

The last Natural Gas Forecast published  here   was on Dec. 1, 2012, a few days after the $4.00 top, and is still current.... "The "c = 1.616 of a" and weekly RSI negative divergence increases the odds that an initial "abc" up is complete. An X wave retracement of Fibonacci 50% or .618 has to be allowed for, so downside targets are 3.00 and 2.80 ." Daily click to enlarge This is playing out exactly as forecast.  I believe that natty is smack in the middle of  an extended correction beginning on Dec 26 2012. An examination of the sub wave labeling above, reveals that  b of B of X may just have completed or nearly so. The sub waves within the b of B are;  -c-=.76 of -a-, at the lows of 3.14 Thur. the 14th.  Expectations then would be for a short term move up to the 3.50 /3.70 area followed by a move lower to 3.00 or more likely 2.80 and possibly, though less likely, even 2.40 ( if its a .76 retrace).  That would complete the C of a X wave