Traders...
I’m not sure what’s going to happen with natural gas: additional supply-side constraints, increased demand for power generation and/or exports (looking at you Europe), storage depletion, a colder-than-average winter, continued decreased purchasing power of the dollar by increased QE , the realization by the masses that natural gas is the best “clean” power generation source, or whatever may come - but I do know that this chart is screaming higher prices.
Let’s look at the three reasons below as to why this symbol/chart would be a solid investment:
1) Large cup and handle just broke out on the weekly - price target is ~$34 based on the break.
2) Using EWT , since wave 3 was less than 1.618 of wave 1, an “extended fifth” is possible, which gives extra merit to our target.
3) Placing a Fibonacci retracement on the last wave down, using the 0.382 Fib gives a target of ~$37.
RRC - a screaming buy not to be missed out on!
I’m not sure what’s going to happen with natural gas: additional supply-side constraints, increased demand for power generation and/or exports (looking at you Europe), storage depletion, a colder-than-average winter, continued decreased purchasing power of the dollar by increased QE , the realization by the masses that natural gas is the best “clean” power generation source, or whatever may come - but I do know that this chart is screaming higher prices.
Let’s look at the three reasons below as to why this symbol/chart would be a solid investment:
1) Large cup and handle just broke out on the weekly - price target is ~$34 based on the break.
2) Using EWT , since wave 3 was less than 1.618 of wave 1, an “extended fifth” is possible, which gives extra merit to our target.
3) Placing a Fibonacci retracement on the last wave down, using the 0.382 Fib gives a target of ~$37.
RRC - a screaming buy not to be missed out on!