Market caught at HISTORICALLY & EXTREMELY SHORT in NatGas positioning!!!
Last on Nov 2016, when it was EVEN LESS Short than current levels, NatGas <<>>
Shorts were building after May 2017, means that the market is caught <<>>
Currently, $3.07
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HEDGE FUNDS have cut net long position in US natgas in five...
As per last update -I was correct picking the top@2. 930 approx (made a high@2.945)but just failed to watch the 4th wave which I was expecting in the zone 2.785-2.800 - Later I could not monitor as I was running down with a fever- well that's my personal issue.
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As per the earlier analysis, it cannot be a 4th wave because it is out of proportion-...
If NG falls in the zone 2.785-2.800 -there it will retrace 38.2% & shall be ready for another up leg in the zone 3.105-3.150 target zone in final tranche.
Follow up from previous NG post- NG to move in 3.100 to 3.150 zone.. Internally "v?" -wave is divided into five waves of itself.
In this move we captured above 2.590 to 2.825
where 3rd wave moved exactly 161.8% of the 1st wave which comes at 2.850. High was 2.850. If the count is correct - allow retracement in 4th wave in the zone 2.745 - where it shall...
As per last update - Natural Gas to move in the zone 3.100-3.150 -
Awesome - we started moving. Currently Trading at 2.770- Just Take Care that falling trendline could halt this move so it is advisable to book profits close to the trendline & wait for further action- if trendline is pierced by NG then one can hold...
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QG1!
