Natural Gas - The short term count tricked me a bit as I thought that wave 3 up from 1.90 had already begun, but that is no longer a valid count. Instead the wave v thrust out of the triangle became an extended rally as wave v was equal in length to the rally of wave i through to wave iii.
We should now see a correction towards 2.22, where 61.8% of wave 1 will be retraced and from there we should see a new rally in wave 3 towards at least 3.08 but more likely we will see a rally to 3.68.
A break above 2.76 will also trigger an Inverse S/H/S bottom adding more confirmation, that an important bottom was in place at the 1.90 low.
No comments:
Post a Comment