As I mentioned in my Natural Gas
Forecast, I believe that Natural Gas
is ready to move up, so I decided to check out CHK
which I believe is in the NG
business. It appears that CHK
is nearing the bottom of a descending wedge
with the potential to break out and form a great H&S
reversal pattern. The hourly waves are all in good position and the Day wave is about to turn positive. I expect the move to begin in the next day and last for a few days. The price action also looks very similar to where it was on 4-08-16, which is when it jumped 60% in just a few days, which is what I believe it is going to do again.