Natural Gas from the weekly chart clearly is in a longer term downtrend. From the daily chart we are now for the 2nd time at a .62 retraction of the recent rise. IFFF the sideways action since is what the EWT folks call a "flat" we may well be ready for a sizable up move. Stay tuned. Feedback on this would be greatly appreciated as the picture is far from clear. Would like to know what others think.
Kommentera:
Good start this week. In EWT one of the rules is that wave 1 and 4 cannot overlap. However occasionally (for me at times of transition) wave 1 or wave 5 can have 5 overlapping waves where wave 4 overlaps wave 1. These are referred to as "leading diagonal" or "ending diagonal". In the 1 hour chart I think we may have a leading diagonal. If so there will be a strong up move next. Process your way. No pattern is always correct.
Kommentera:
Correction. The chart on the left is a Weekly chart.
