Natural Gas Waves and Fib Review

 Charting and labeling Elliott Waves!!  I often think labeling Elliott Waves on my charts is not only difficult but possibly a disservice; it can prevent taking a fresh look at the current state of play. Deadly.

And like anything ( and here I'm thinking about physical deals too) that requires extended investment of our creative and analytical energy (not to mention $$) it is tough to make that pivot. 

But labeling the waves keeps us honest and provides a point of reference for the discussion.

 NG1 4 hr bar. 


 


 

 

 

 

 

 

 

 

Note that the RSI does have positive divergence, but problematic short term.

Important piece here is the C=A at the lows. Do Natural Gas primary wave structure as 3's or ABC's? 

On the anecdotal fundamental side of things; we hit historic numbers seen only when the world was in lock down, now the return of China, LNG exports, and getting past the seasonal low influence of Jan/Feb.

Possibly we have a complete 1 up and a flat 2, of some degree . Check out the Fib extensions below on the right side  of chart.












Added this at the days close for a better look at the potential 1,2.



 

 

 

 

 

 

 

 

 

Not trading advice. Not a recommendation. Not representing ANY firms views. 

The above is a theoretical, philosophical, and hopefully educational, musing by

a completely Natural Intelligence.

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