Natural Gas

As shown on the N.G. daily chart below, a countertrend rally in Minor-degree wave C would trace out Intermediate wave (4) as a flat correction in three waves.

Accordance with the Elliott Wave Principle, in a “flat” correction:

• Wave B usually retrace between 100 and 138 percent of wave A.
• Wave C is usually between 100 and 165 percent as long as wave A.
• Wave C usually ends beyond the end of wave A.

Natural Gas

Correcting Up :

As shown on the N.G. daily chart below, the Minor-degree wave B down could have completed and the same degree wave C begun its way up now.

The wave C of Intermediate wave (4) would achieve the Fibonacci 0.382 retracement level at 2.907.

Natural Gas

Correcting Up :

There is no change in the near-term outlook for Natural Gas. As denoted by the labels on the daily chart below, Intermediate wave (4) would be traced out in Minor-degree three waves to the upside.

A pullback of The Minor wave B could have started today, prior to rally of Minor wave C.

Natural Gas

Correcting Up :

As denoted by the labels of 2 straight degrees on the daily chart below, Intermediate wave (4) would be traced out in Minor-degree three waves to the upside.

A pullback of The Minor wave B should lie ahead, prior to start of 2nd rally in Minor-degree wave C.