Sunday, June 9, 2013

Elliott wave analysis of Natural Gas


Natural Gas

Is currently at strong support and we should expect a new rally higher soon. We are at strong support and the next rally will be wave iii of 3 and should take us higher towards 5.97. Remember that I always expect wave iii to extend and at 5.97 wave iii will be 1.618 times longer than wave i of 3. If Things doesn't pan out as expected, when should we begin to worry? If we break below 3.57 it would not be the best of sings, but only a break below 3.05 will invalidated my bullish Count.

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