1 mo. chart
click to enlarge
Note the negative divergence on the RSI.
Elliott Wave identification; the -3- of 3 is at the gap and the 50% retrace level.
This wave up is looking very well developed and mature with the current highs -3- of 5 or -5- of 5.
It is likely complete or very soon will be.
Not to say I"m negative on natty, just that it's overdone short and probably medium term.
The natty Elliott Wave structure longer term is in abc structures that are very symmetrical.
25 yr. chart
click to enlarge
Fair to say that Mt. Natural has found it's base and may very well be in the early stages of a new abc structure up, of longer term significance.
Shorter term it has measured c=a resistance at around 3.90, and 50% retrace resist around 4.10
Shorter term it has measured c=a resistance at around 3.90, and 50% retrace resist around 4.10
5 yr. chart
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