As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18. Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13 possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started trend at 3.537.
Thanks a lot and I need to get myself equipped with the elliot waves theory, how did you learn it please?
mariodconti
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I read several books and I went through them several times. After 25 years of daily trading and analysis, I now teach it. See fxtutors.com.au/p/bootcamps.html
EmmanuelDuru
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Hi, what about the head and shoulders pattern on the 1hr chart?
mariodconti
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That head and shoulder in the 1 hour chart cause the downtrend to 3.930 and it's now history.
From that point on a new uptrend started over.
In terms of Elliott Waves, the new uptrend is now staging wave 3 which is usually the longest one