Monday, March 11, 2013

Natural Gas Update

From the Feb.15  post Natural Gas Measured Targets

"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 down." 

I would encourage readers to check out the Feb. 15 post for additional detail.

In any event, if you are looking for an opportunity to take profits/ position on the short side, here it is.
Daily
click to enlarge
The B wave is currently at the  .618 retrace of A.  The c will = a @ 3.72 

And medium to longer term sub $3.00 has to be bought ( see the previous mentioned post).

PS  For those looking for hours of entertainment I finally got around to updating the Crudewire Archives: Natural Gas: A Chronological History Of Analysis




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