Elliott Wave Analysis: Interesting Pattern on Natural Gas Points Lower
Gregor Horvat | May 14, 2019 11:10AM ET
Hello traders,
Natural gas is unfolding a three-wave corrective rise, which we labelled as wave (4). We can see price now trading at the end of this three-wave rise, ideally in final stages of a minor EW ending diagonal within leg C, that can look for resistance, and a top near the 2.700 area. In this scenario, we see an EW ending diagonal within wave C as a powerful bearish reversal pattern, which can once completed push price strongly towards the downside.
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