SalN

Natural Gas Ugaz Dgaz

OANDA:NATGASUSD   CFDs on Natural Gas
So this wave count is nearly impossible to make out. But I believe that we are near the top of the beginning diagonal and should make a brief correction soon. I tried to get a measurement of the beginning of the wedge for a measured move down. Interestingly it is nearly perfect with a .618% Fib assuming I lined up with the correct bottom. The volume is nearly gone so that is another reason why I think we could get a brief drop before the big push up. So maybe sometime tomorrow I might sell ugaz and wait to buy the dip. GL
Comment: Looking for a wave 4 drop. Since wave 2 was long and complicated....this should be sharp and short lived. But I am only expecting a drop to the .382% or the green zone. All this is assuming I am correct on this very complicated pattern. GL

Comment:
NG is finishing up its dip. However....it might make just a little more of a drop on this dip before moving on up. I would be a buyer at the .78% level
Comment: I am planning on selling ugaz before the market closes today to prepare for what I believe will be a one to two day small sub wave 2 dip. I am looking for NG to reach approximately the 2.72 range.
Comment: hopefully that was a good sell target by me. I will consider buying back in on a .618% retracement before the big move up starts.
Comment: I forgot to also note that there is a slight bearish divergence on the 30 minute with rsi in the overbought territory, suggesting a small pull back.
Comment: I may have been a tad bit premature on my call for 5 waves up for NG. this correction is really looking like a wave 4. That being said....it could be something like this
Comment:
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