NG-4-16-19-10-44-AM

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Natural Gas - wave iii keeps extending down as any commodity likes to do

Yesterday I provided you with a ready-to-go checklist for catching a bottom of a five wave impulsive structure down.

You can start applying to to Natural Gas. Currently we see that extended wave iii. It keeps leaking down. Because NG is a commodity its wave iii may extend and overextend. This is why we always wait for a well pronounced pullback in a corrective wave iv down before we really start focusing on the potential of a bottom. 

Natural Gas - 45 min chart updated at 10:46 AM on 4/16/2019

10-45-AM

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