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NG-45m-1-13-2020-9-00-pm

NG - one more higher high may complete that corrective bounce

That pullback may be much shallower than I expected. We have two major types of pullbacks: ether *correction through price” – when pullback retraces significant part of preceding impulsive move. or “corrections through time” – when price may undergo a whipsaw looking pullback without retracing significant part of preceding impulsive move. And so far it looks like that pullback in subwave ( b ) up could be a “correction through time”.

To complete a corrective -a-b-c- structure price needs to make another higher high in the area 2.255 – 2.265.

After completion of that corrective -a-b-c- up structure NG may continue its impulsive decline in subwave ( c ) down that could finally crack psychologically important 2.000 support.

NG - 45 min chart updated at 9-00 PM on 1-13-2020

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