Elliott wave analysis of Natural Gas

Natural Gas

It has been some time since I have last looked at Nat. Gas, but I was asked to take a look at it Again, so here we go.

Please see my last post from June 9, here first: http://theelliottwavesufer.blogspot.dk/2013/06/elliott-wave-analysis-of-natural-gas.html

I'm still looking for a much higher rally towards 5.97 and possibly even higher. We are currently in a wave ii correction which could have ended with the test of 3.53, but we need a break above 4.04 to confirm that wave ii is indeed over and wave iii on its way higher towards 4.98 and my first target at 5.97.

To invalidate my Count it will take a break below support at 3.05. I don't expect that this decline will even come close to support at 3.05, but the unlikely event should happen and we break below 3.05, then we should look for support at 2.79.