NATURAL GAS broke parabolically and the rise won't stop here.Back in late August (see chart below), we gave a bold strong buy signal on Natural Gas (NG), right at the very bottom of its Higher Lows structure:
As you can see, it is well on its way to hitting our 6.400 Target as it rose parabolically.
This time, we revisit NG's multi-year Cycles, a chart we first coined years ago that became quite popular in the energy sector. This is because we feel that this recent 3-month parabolic rise opens the way to an even higher, than anticipated before, Cycle Top.
The 1M RSI turning overbought (above 70.00) is the trigger and we believe that by that time Natural Gas could be as high as 8.000. Basically since 2000, it has only failed to price a Cycle Top without the 1M RSI hitting 70.00, once.
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