Lets see how this plays out ...but....I think that grey area that I had previously talked about was squashed today. I am hoping we close above the first trend line. A close above the next one is super bullish. I think a little flag consolidation just below the next trend line would be a great sign.
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Looks like a small 5 waves almost complete inside this 3rd wave. Maybe a couple more days before a larger wave 4 consolidation.
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looks like we are turning down. We will see how this looks in the morning. If this is the 4th a,b,c correction. I do not expect it to drop below the green zone.
I just bought Dgaz this morning. I am expecting Ng to drop until February 15th - 20th. I think we just completed a retest of the MA for a wave 2. Starting wave 3 down
TomPower
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@SalN, wave 3 down , how did we go from such a huge impulse to a the strongest wave down, that would mean a test of 2 then?
TomPower
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unfortunately I bought about 4 months ago expecting this winter rally , looking at a 30% drawdown. Its totally stumped me.
TomPower
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@TomPower, holding that channel well, dude u called it this time
SalN
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@TomPower, I knew that the wintero rally is eventually going to happen but as far as calling it I feel like that was just simply a lucky guess
dsankie21
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Fundamentally, if oil is near the top of the range. In theory that could help with less oil wells that produce natural gas as by product.
Couple that with massive draws and and new piplines coming on line to mexico that could all be a nice catalyst for natural gas
leonarddavidson60
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Thanks for an update..totally agree..despite the enourmous pressure by trapped shorts.. NG is breaking out to the upside..being " late" winter rally, it should be running for weeks..well into the March ..with possible small pullbacks ..