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TFC Commodity Trading Forum

wave count natural gas

Natural gas according to my count has finished a 5 of 5 of 5 down and the rally to 284-85 level is counted as a wave one to to upside and currently in the process of a wave 2. We are currently at the level 223-225 which is about 78.6 of the length of W1. Truncation is possible here with the very powerful 3rd wave to come. I bought friday about 8 cents higher from here and will add if we can break 291 to the upside basis the sept contract. Another possible scenario is a double bottom but that is a secondary count for me right now.

Good trading
Commodity Kid
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