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MarketIntel
Jul 13, 2023 2:39 PM

NatGas: Come on! 👏 

Henry Hub Natural Gas FuturesNYMEX

Description

NatGas needs to show a bit more motivation to complete wave 3 in green, as we expect the corresponding top near the upper end of the white zone between $1.88 and $3.43. After the price has also dealt with the short counter movement of wave 4 in green, it should finish the green five part upwards movement, rising from the white zone toward the top of wave iv in pink. As soon as this is placed, we reckon with a significant downwards movement, which should lead to the low of wave 2 in green before the ascent can start anew. However, there is a 40% chance that NatGas could leave the white zone on the lower side prematurely, thus developing wave alt.2 in green earlier already.
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